European Investment Bank allocates €60 million to reconstruct motorway and upgrade public transport in 3 cities

The European Investment Bank (EIB) has provided more than €60 million in loans under EU guarantees for the reconstruction of the MO1 road and investments in public transport in the cities of Kyiv, Odesa and Sumy.

Source: press service for the European Investment Bank, as reported by Interfax-Ukraine

Details: It was noted that €43.48 million of the funding provided is allocated for the reconstruction of the M01 Kyiv-Chernihiv-Novi Yarylovychi motorway section.

At the beginning of the full-scale war in 2022, Russian military forces attempting to occupy Kyiv used this route, which caused significant damage.

Another €17.25 million has been allocated to upgrade urban public transport, which is essential for the mobility of Ukrainian cities.

The funding will be used to purchase new buses, trolleybuses and trams, as well as the necessary spare parts and maintenance equipment.

This investment includes new buses for Kyiv, Ukrainian-made trams for Odesa and trolleybuses for Sumy.

Background: The European Investment Bank is a long-term lending institution of the European Union owned by its member states. The bank finances investments that contribute to the achievement of EU policy objectives.

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