EBRD allocating EUR 300M for Ukrzaliznytsia to purchase electric locomotives

The relevant statement was made by the Ukrainian Communities and Territories Development Ministry, following a meeting between the representatives of the ministry and the EBRD, an Ukrinform correspondent reports.

“Currently, the EBRD is ready to provide a loan worth EUR 300 million for the purchase of 50 electric locomotives. At the same time, with grant funding from the World Bank’s Rehabilitation of Critical Logistics Infrastructure and Network Connectivity (RELINC) project, it will be possible to acquire another 30 electric locomotives, totaling USD 190 million,” Ukrainian Communities and Territories Development Deputy Minister Tymur Tkachenko noted.

Photo: Ukrainian Communities and Territories Development Ministry

In his words, the Single Project Portfolio (SPP) of investment projects allows Ukraine to mobilize partners’ resources and direct them to the implementation of priority projects.

EBRD Managing Director for Ukraine and Moldova Arvid Tuerkner mentioned that even now it is necessary to coordinate each joint project step by step to make sure that everything goes according to the plan.

Photo: Ukrainian Communities and Territories Development Ministry

The parties discussed the terms of signing contracts and guarantee agreements.

Separately, the meeting participants spoke about the assistance of the EBRD and the International Finance Corporation (IFC) with the further implementation of concession projects at Ukraine’s Olvia Port and Chornomorsk Port.

A reminder that the European Bank for Reconstruction and Development (EBRD) will continue to implement joint restoration projects with Ukraine and focus on the promising areas of cooperation, such as the development of cogeneration, transport and postal networks.

Photo: Prydniprovska Railway