The EIB will allocate funds for the modernization of the Kyiv metro

09:14 29 November Kyiv, Ukraine

The European Investment Bank (EIB) and the authorities of Kyiv signed a document providing for the restoration and modernization of the transport infrastructure of the capital. Estimated cost of the project - 450 million euros.

This was reported by the press service of the EIB.

Thanks to this project, Kyiv will no longer depend on Russian railcars and related spare parts.

It is noted that currently 80% of the cars of the Kyiv metro are Russian-made, and more than half of them need to be modernized, updated or replaced.
 
"The partnership recognizes the urgent need to invest more than 450 million euros to help Kyiv modernize its metro rolling stock and end the city's former dependence on supplies from Russia," the EIB said in a statement.
 
Also Kyiv and the development branch of the EIB Group (EIB Global) will start preparing a number of other projects. In particular, the expansion of the Kyiv metro with an estimated cost of more than 500 million euros, and the reconstruction of social housing affected by Russian strikes.