The Export-Import Bank of the United States has approved a direct long-term credit program for Ukrzaliznytsia to update its rolling stock fleet with 40 Wabtec locomotives, this is reported by the railway transport news portal Railway Supply.

Wabtec locomotives for Ukrzaliznytsia

The bank’s financing is expected to amount to $156 million over a period of 15 years.

The decision, which allows the completion of negotiations between Ukrzaliznytsia and Wabtec and initiates the locomotive procurement process, was announced during a meeting attended by U.S. Special Representative for Ukraine Economic Recovery Penny Pritzker, President and Chairman of the Export-Import Bank of the United States Reed Joe Lewis, U.S. Ambassador to Ukraine Bridget Brink, Vice Prime Minister for the Restoration of Ukraine – Minister of Community Development, Territories and Infrastructure of Ukraine Oleksandr Kubrakov, and Chairman of the Board of Ukrzaliznytsia Yevhen Liashchenko.

“We know the role that the railway has played in defending Ukraine and the Ukrainian people. I am very proud of the Ukrainian railway workers who have done everything to save lives and maintain the railway network. In any circumstances, you deserve support, and this agreement, which will be further implemented at the legislative level, is what we can do together when government and private sector efforts are aligned,” emphasized Penny Pritzker.

Wabtec locomotives for Ukrzaliznytsia

“First of all, thanks to the President and Government of the United States, Congress, and the American people for their assistance and support to Ukraine in this war. Every aid package for Ukrainian Railways is not only an investment in our logistical capacity and infrastructure development. It is a contribution to the defense capability and resilience of our state,” noted Oleksandr Kubrakov.

For his part, Chairman of the Board of Ukrzaliznytsia Yevheniy Lyschenko announced that Ukrzaliznytsia is the first of Ukrainian state-owned companies to receive financing from the U.S. Eximbank. “This agreement is a continuation of the U.S. government’s policy to support Ukraine in a difficult period, on the other hand, it is recognition of the strategic role of Ukrzaliznytsia in providing passenger and freight rail transport, including the evacuation of the population from the contact line zone and areas close to the combat zone, maintaining food security through grain exports. Ukrzaliznytsia has successful experience in operating Wabtec locomotives, the procurement of which at that time strengthened the company’s capabilities,” he emphasized.

Wabtec locomotives for Ukrzaliznytsia

“We, more than anyone else, feel the rhythm of life in Ukraine and strive to help it with all our might. Our goal is to develop export-import activity. Ukrainian-American cooperation is strengthening, our government is absolutely convinced that Ukraine is the place where investments should be made. This agreement is a symbol that the recovery processes in Ukraine are starting despite the conflict and will bring mutual benefit to both countries, as Ukraine will receive critically needed equipment, and at the same time, this project will encourage our private sector to contribute more to the recovery in Ukraine,” emphasized Reed Joe Lewis, Chairman of the Board of the Export-Import Bank of the United States.

“We are grateful to our American partners for their cooperation and hope that our first transaction will become a benchmark for other borrowers from Ukraine who will implement strategic investment projects in Ukraine with the U.S. Eximbank,” concluded Yevhen Liashchenko.

Photo source: Ukrzaliznytsia

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