The European Bank for Reconstruction and Development (EBRD) has committed a further 48 million euros to Ukraine’s state-owned rail operator to fund the country’s rolling stock renewal programme.
The loan will allow Ukrainian Railways to buy new freight wagons and continue its fleet modernisation programme.
EBRD has now given more than 300 million euros to Ukraine’s railway sector since 1999.
EBRD has said all projects with Ukrainian Railways and private railway operators in the country in the last 13 years “have supported wide-ranging sector reforms, including plans to separate infrastructure and operations, divest non-core activities, review tariff policy and reduce cross subsidies between freight and passenger operations, as well as open up the sector for private investments and promote competition in railway services”.
The EBRD is the largest financial investor in Ukraine, having committed over 8 billion euros through 327 projects as of the end of October this year.
