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Ukraine ratifies financial agreement with EIB on upgrading Ukrainian railway section

The Bank is to assign 150 million Euros to modernize Dolynska-Mykolaiv-Kolosivka railway
13:08, 3 October 2018

Open source

The Ukrainian Parliament ratified the financial agreement with the European Investment Bank, which aims to upgrade a section of the Ukrainian railway. The financial entity will assign 150 million Euros to modernize Dolynska-Mykolaiv-Kolosivka railway.

234 Ukrainian MPs supported the bill (226 necessary to pass the document, - 112 International).

The money is supposed to be transferred in 20 loans, five million Euros each.

The project's implementation will allow to increase the railway's transport capacity, to provide energy saving during transportation as well as to cut the exploitation expenses. It will also let solve the problems with cargo capacity in this section towards the sea docks of Mykolaiv and increase the speed of cargo trains by 25 percent.

The document was signed in Brussels in December 2016.

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