Bank financing is to amount 150 million Euros, while the total cost of the modernization project is equivalent to 314 million Euros, according to the EIB data. Thus, the project will be almost 50% financed by the EIB.

The decision on the allocation of funds was made on November 23.

The project will finance the modernization of approximately 250 km of railways in the southern regions of Ukraine.

October 12, the last details were agreed on the loan for a total amount of 300 million Euros from the EIB and the EBRD for the electrification of the railway section Dolinskaya - Mykolaiv - Kolosovka.

Reference: The European Investment Bank (EIB) was established under the Treaty creating the European Economic Community on March 25,1957. Today, the 28 member states of the European Union are the shareholders of the EIB. Over the course of cooperation with the EIB, agreements were signed for thirteen projects totaling 2 947 540 000 Euros.

Photo: Internet