News

October 23, 2015

EBRD to issue EUR100 mln to Ukrainian cities to upgrade transport, Odesa to get EUR8 mln for trolleybuses

The European Bank for Reconstruction and Development (EBRD) has approved the issue of EUR100 million to several Ukrainian cities to improve public transportation, focusing on renovating and improving transport efficiency including EUR8 million to municipal enterprise Odesamiskelektrotrans for the purchase of 45 new trolleybuses.

EBRD Senior Adviser for External Affairs Anton Usov told Interfax-Ukraine that the bank’s board of directors made the decision on October 14.

According to the project, credit funds will be given to public transport enterprises in Odesa, Chernihiv, Chernivtsi and a number of other cities in the country under municipal guarantees.

At the same time, prior to the signing of relevant agreements the EBRD intends to issue EUR2.5 million within technical cooperation, after signing another EUR5.5 million.

As part of consultation and technical cooperation in the subproject in Odesa it is planned to grant EUR50,000 before signing the contract, EUR350,000 – after its signing.

Original article: http://en.interfax.com.ua/news/economic/296594.html

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About Ian Bearder
Co-Founder and Chairman of ITS Ukraine.

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