The European Investment Bank (EIB) may provide a loan of EUR 150 million for modernization of approximately 250 kilometers of railways in the southern regions of Ukraine, the Interfax Ukraine news agency reports, citing information on the EIB's website.
The project aims to improve Ukraine's transport infrastructure and promote sustainable transport. The total cost of the project is EUR 350 million.
Earlier, it was reported that Ukraine intended to electrify 838 kilometers of tracks to the Black Sea ports and the borders with Poland and Belarus within five years.
During the period of 2015-2017, the State Railway Administration (Ukrzaliznytsia) will focus on electrification of the Dolinskaya-Nikolayev-Kolosovka route, which will increase the efficiency of transportation to the ports in Greater Odessa and Nikolayev. It was noted that the working documentation for this project already exists, funding is expected from the EIB, and the project will soon be presented to the government for approval.
In addition, during this period Ukrzaliznytsia will also step up preparation and implementation of projects for electrification of railways to the borders with Poland and Belarus. As a result, the Baltic Sea-Black Sea transport corridor will be developed.