Business News, 29/09/2017

Kharkiv Metro Gets Loan from EIB

The European Investment Bank has endorsed an allocation of the EUR 160 million loan for the extension of the Oleksiyivska line by 3.5 km. Information on this decision is published on the EIB website.

The project includes the building of two new metro stations (Derzhavynska and Odeska), a depot and the purchase of new rolling stock.

“The project will improve public transport in Kharkiv by extending the metro network and making it more attractive for commuters. Consequently, it is expected that the investment will result in a modal shift away from private car use, thus reducing the negative impact of vehicles on the environment,” the EIB noted.

The EIB stressed that the project’s implementation may require the resettlement of some households and businesses.

The total cost of the project is EUR 320 million. The European Bank for Reconstruction and Development will provide another EUR 160 million loan.

Text: Natalia Ivanova

Photo: Liga Business