The board of directors of the European Bank for Reconstruction and Development approved a loan of EUR 50 million for purchase of rolling stock for the Kyiv subway on March 25.

Anton Usov, the EBRD’s senior adviser on external relations, announced this in a statement, the CFTS portal reports.

"The new cars will be used on the Syretsko-Pecherskyi line, a new section of which will connect downtown Kyiv with the Vynohradar district. The project is expected to be signed before the end of the second quarter of 2020," said Usov.

Earlier, the Kyiv municipal administration announced plans to begin purchasing new railcars for the Kyiv subway system with EBRD loan funds in 2020. It intends to purchase 50 new railcars with the EUR 50 million.