The European Investment Bank (EIB) has provided over EUR 60 million in loans backed by EU guarantees for the restoration of the MO1 road section and investments in public transport in Kyiv, Odesa, and Sumy, the bank's press service informed the Interfax-Ukraine agency.
“These investments not only restore vital transport links but also significantly support the daily lives of Ukrainians by ensuring mobility, safety, and economic interaction. Together with our Ukrainian partners and the European Commission, we are paving the way for a stronger and more resilient Ukraine, despite the enormous challenges,” noted EIB Vice President Teresa Czerwinska, who is responsible for the bank's operations in Ukraine.
It is specified that this financial support is part of the EIB's Emergency Solidarity Measures package for Ukraine, under which the bank has already provided more than EUR 2 billion to Ukraine since 2022.
Of the funding provided, EUR 43.48 million is allocated for the reconstruction of the M01 highway section Kyiv — Chernihiv — Novyi Yarylovychi as part of the "European Roads of Ukraine II" project, implemented under the guidance of the State Agency for Restoration and Development of Infrastructure of Ukraine. At the beginning of the war in 2022, this route was used by advancing military forces attempting to occupy Kyiv, resulting in significant damage. The planned reconstruction will improve the quality and safety of the road, enhancing the efficiency of this transport corridor.
Another EUR 17.25 million is earmarked for upgrading urban public transport, essential for ensuring the mobility of Ukrainian cities. The funding is directed towards acquiring new buses, trolleybuses, and trams, as well as necessary spare parts and maintenance equipment, which will ensure reliable and efficient public transport operations. This investment includes new buses for Kyiv, domestically produced trams for Odesa, and trolleybuses for Sumy. The upgrade is part of the "Ukrainian Urban Public Transport" project aimed at aligning the country’s urban transport with EU standards.
“This EUR 60 million in funding from the EIB, supported by EU guarantees, will help restore critical transport infrastructure that has been damaged as a result of the war in Ukraine. This will impact the daily lives of Ukrainian citizens, facilitating mobility within Ukraine and international trade with its partners. This transaction is yet another important testament to the EU's continued support for Ukraine,” emphasized European Commissioner for Economy and Productivity, Implementation and Simplification Valdis Dombrovskis.
The European Investment Bank (EIB) is a long-term lending institution of the European Union, owned by its member states. The bank finances investments that contribute to achieving the goals of EU policy.