The World Bank may provide the Ministry of Infrastructure of Ukraine with $250 million in financing for the modernization of the railway, reports the railway magazine Railway Supply.

Modernization of UZ

The goal of the project is to increase the efficiency and financial stability of Ukrzaliznytsia.

Funding could begin in fiscal 2022, which ends June 30 at the World Bank.

The number of overhauls of UZ wagons in July increased by 78%

In addition, the institution can also provide Ukraine with $400 million in funding for a safe road project.

The purpose of this project is to support the implementation of the Vision Zero concept in Ukraine (an international program to improve road safety and reduce mortality in road traffic accidents).

Funding for the project could begin in fiscal 2023, which starts on July 1, 2022.

As previously reported, among the priorities of cooperation with the World Bank is the development of the railway.

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