The European Investment Bank will provide a EUR 200 million loan to finance public transport in 20 municipalities of Ukraine. According to the statement made by the bank, a decision regarding the allocation of funds was made by the board of directors on September 23.
The total cost of the project is estimated at EUR 400 million. The project aims to increase the frequency and regularity of public transport in Ukrainian cities.
The funds will be also used to reduce harmful emissions by switching to electric transport.
Last week, Ukraine received a USD 1 billion payment under guarantees from the United States.