Ukraine, EIB ratify financial agreement on loan for extension of subway line in Kharkiv

Source : 112 Ukraine

The Bank is supposed to lend 160 mln Euros for that purpose
16:26, 5 December 2019

Kharkiv subway

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.

Related: Apple Watch presentation video features Kyiv’s subway and central railway station

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.

Related: Kharkiv City Hall sues Institute of National Remembrance for decommunization issues

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