The Ukrainian Parliament and the European Investment Bank have ratified the financial agreement. It foresees the Bank provides the loan for the extension of the third underground line in Kharkiv. 337 MPs voted for the respective bill (226 necessary to pass).
Vasyl Shkurakov, the Deputy Finance Minister of Ukraine presented the bill.
"The entire period of loan servicing makes 25 years, with the grace period of four years. The first date of loan servicing will fall on April 20, 2022", Shkurakov said.
In this case, Ukraine's Finance Ministry borrows the money and re-loans it to Kharkiv subway.
The project aims for improvement of transport service of the population of Kharkiv and the extension of the Oleksiivska subway line by 3,470 meters.
10 million Euros will be allocated from the local budget, too.