Thu. Dec 26th, 2024

Luxembourg, 24 September 2024

  • The EIB and Kyiv have signed a €50 million agreement to modernise the city’s metro rolling stock with energy-efficient coaches.
  • The investment will help the Kyiv metro end its dependence on Russian-made spare parts, ensuring more resilient and reliable transport – essential for keeping the capital moving for both business operations and residents in their daily lives.
  • The €50 million, supported by the EIB’s EU for Ukraine Fund, is part of a larger €200 million loan package approved by the EIB and available to Kyiv for metro infrastructure upgrades.

Before the war, 80% of Kyiv’s metro fleet came from Russian manufacturers, making ending this reliance a strategic priority. With over 60% of the fleet past its operational life, the new funding will allow outdated coaches to be replaced with modern, energy-efficient alternatives from local or international suppliers. This aligns with the Kyiv City Development Strategy 2025 and Ukraine’s National Transport Strategy 2030, aimed at building a more sustainable and reliable public transport system.

The €50 million, supported by the EIB’s EU for Ukraine Fund, represents the first tranche of a €200 million loan made available by the Bank, with this initial amount being provided exclusively for the purchase of new metro coaches for Kyiv. The remaining €150 million will be provided following an EIB-funded feasibility study on the viability of buying further new coaches versus modernising some of the existing fleet. The total funding will enable Kyivskyi Metropoliten, the municipal enterprise that operates the Kyiv metro system, to upgrade or replace between 120 and 160 metro coaches, enhancing the city’s transport infrastructure.

Mykola Povoroznyk, First Deputy Head of Kyiv City State Administration, said,

“In the midst of this large-scale invasion, Kyiv continues to develop. All areas of the city’s economy have been reconfigured to work in wartime conditions. This is not only about ensuring stable operation, but also about spurring development with modern technology. Foreign donors also take an active role here. The EIB is a long-standing, reliable partner of Kyiv. The project to modernise the capital’s metro rolling stock is important for our city, and we are very grateful to the EIB for supporting its implementation. The Kyiv metro is one of the most popular modes of transport in the capital. Millions of passengers use it every day. That is why, first and foremost, the purchase of modern, energy-efficient metro coaches means making passenger transport safer, and making better use of funds from the Kyiv city budget for rolling stock. It’s an urgent and high-priority issue today, taking into account the war conditions in Ukraine.”

EIB Vice-President Teresa Czerwińska, who is in charge of Bank’s operations in Ukraine, said,

“The EIB is steadfast in its commitment to supporting Kyiv and cities throughout Ukraine as they modernise their infrastructure, particularly in the face of ongoing wartime challenges. The Kyiv metro is a critical transportation lifeline, and this investment will greatly improve its reliability and resilience. By reducing reliance on Russian-manufactured rolling stock, spare parts and maintenance equipment, this collaboration marks an essential step toward enhancing Ukraine’s independence and aligning its transport systems with European standards. Reliable connectivity is vital for the economic growth and the well-being of the city’s residents.”

The EIB’s continuing support for Kyiv and Ukraine

The EIB remains committed to its long-standing relationship with the Kyiv authorities and is working closely on urban transport projects supported by EIB loans. These initiatives aim to improve the capital’s public transport fleet, having already delivered 20 new low-floor trams to Kyiv, with additional modern buses, funicular carriages and metro coaches forthcoming.

Since the onset of Russia’s war in Ukraine, the EIB has provided more than €2 billion of financing for emergency repairs to the country’s ravaged infrastructure. Through its EU for Ukraine (EU4U) Initiative, coupled with its key role in implementing the European Union’s €50 billion Ukraine Facility, the EIB is strongly committed to stepping up its activities in line with the mandate given by EU leaders and in close cooperation with the European Commission, the European Parliament, EU Member States and international partners.

Background information 

EIB Global is the EIB Group’s new specialised arm devoted to increasing the impact of international partnerships and development finance outside the European Union. It is designed to foster strong, focused partnership within Team Europe and as part of the EU Global Gateway strategy, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices around the world.

The EU for Ukraine Fund (EU4U) was established in 2023 as part of a larger EU for Ukraine initiative. The fund aims to accelerate the support of EIB Global for Ukraine’s most urgent infrastructure needs and to help sustain the country’s economy. It supports critical recovery and reconstruction projects involving both the public and the private sectors and improves access to finance for entrepreneurs in Ukraine. To date, the fund has secured over €420 million in pledges from the Member States.

Source – Press and information team of the Delegation to UKRAINE

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