EBRD will provide financial support to UZ
The European Bank for Reconstruction and Development has decided to provide Ukrainian railways with additional financing in the amount of 98.8 million euros. This will help establish freight and passenger traffic, reports Railway Supply magazine, citing Raport Kolejowy.
Ukrzaliznytsia will once again receive financial support from the EBRD. Earlier, within the framework of the European Sustainable Development Fund (ERDF), the institution transferred 50 million euros to a Ukrainian transport company.
The EBRD was supposed to provide Ukrzaliznytsia with a loan of 150 million euros. The amount was supposed to be allocated as part of the railway electrification project, but due to the current military situation in the country, the money was allocated for other purposes. The first 50 million euros out of 150 million euros were transferred to Ukrzaliznytsia in June last year. As a result, freight and passenger transport has been improved. The remaining almost 100 million euros should be transferred to UZ soon. Ukrzaliznytsia, the EBRD and the Ministry of Finance of Ukraine signed the contract on 1 September.
Due to the dramatic situation in Ukraine, the EU and its affiliates are constantly providing support packages to the affected state. In particular, the funds are directed to help in the reconstruction of the country.
Ukraine appears to be now Europe’s focal point for the development of the TEN-T (Trans-European Transport Network) network and distribution of funds. Known as China’s gateway to the European Union, Malaszewicze is slowly losing its investment appeal. Previously considered a European core network, the terminal has now become a “regular node” on the East-West corridor.
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