EIB, EBRD to finance road safety project in six Ukrainian cities

The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) will provide EUR 75 million each for the road safety project in the cities of Kyiv, Dnipro, Kharkiv, Lviv, Kamianets-Podilskyi and Odesa, according to the Infrastructure Ministry of Ukraine.

“This project will be implemented by Kyiv, Dnipro, Kharkiv, Lviv, Kamianets-Podilskyi and Odesa. The main goal of the project is to reduce the number of accidents and casualties by improving road infrastructure, the infrastructure for pedestrians, bicycle and public transport. The estimated cost of the project is EUR 177 million, of which loans of EIB total EUR 75 million, EBRD - EUR 75 million, and the rest will be formed by own funds, technical assistance and other sources of financing,” reads the report.

EIB representatives have said they are also considering launching the second part of this project, with funding of EUR 50 million involving other Ukrainian cities. However, the second part of the project will be launched after the funds provided to the cities within the first part of the project are used.

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