The European Investment Bank (EIB) and the city of Kyiv will work on the restoration and modernization of the capitalʼs transport infrastructure.
This is stated in a press release on the bankʼs website.
In particular, EIB will help to modernize the rolling stock of the Kyiv subway and stop the dependence of the capital on the rolling stock of the Russian subway and the corresponding spare parts. The current cost of the project is €450 million.
According to the European Investment Bank, now 80% of the subway cars of the capital are Russian-made, and more than half of them need to be modernized or replaced.
Also, Kyiv and the EIB will begin preparations for the expansion of the capitalʼs subway with an estimated cost of more than €500 million and the reconstruction of housing that was damaged by Russian attacks.
- Since the start of Russiaʼs full-scale invasion of Ukraine, the European Investment Bank has disbursed more than €1.7 billion in EU funding to the Ukrainian government.