The European Investment Bank (EIB) is lending EUR 200m to the Ministry of Transport of Ukraine to support sustainable municipal transport through a modal shift from road to electric transport and more efficient operation of existing public transport systems in municipalities across Ukraine.
EIB Vice-President Vazil Hudák commented: “A higher level of customer service and sustainability of public transport in medium to large Ukrainian cities will increase citizens’ quality of life, improve the environment and increase energy savings, leading to higher economic output. I am glad that the EIB can contribute via strategic loans such as this one.”
The project will contribute to the implementation of the National Urban Public Transport programme promoted by the Government of Ukraine. It covers municipal schemes involving the purchase of new or modernisation of existing rolling stock, e.g. trolleybuses, trams and buses, and the rehabilitation and construction of public transport infrastructure such as tram lines, bus lanes, stations and depots. It will target up to 20 municipalities and will comprise multiple investment schemes ranging in cost between EUR 1m and EUR 50m. The final beneficiaries will be municipally-owned transport utilities or municipalities themselves.
The investment costs of the schemes to be supported under this loan are expected to total some EUR 400m, of which EIB will co-finance up to 50%. The project will also be co-financed by a partner financing institution – the European Bank for Reconstruction and Development (EBRD).
This wide-ranging collaboration between the bank of the European Union and the Lazio Region will lead to funding of €500m in all production sectors in the coming years. This is the goal of the agreements already signed or still being finalised that were announced today by Dario Scannapieco, Vice-President of the EIB, and Nicola Zingaretti, President of the Lazio Region, and which are also intended to support the post COVID-19 recovery.
The EIB will provide €100 million to the Valencia Region for the reconstruction of infrastructure damaged in late 2019 by extreme weather caused by a phenomenon described as “isolated high altitude depression” – or a “DANA” as it is known in Spain – and by Storm Gloria in early 2020. The objective is to get industry and tourism in the affected areas up and running again and to restore basic services infrastructure. The financing will also be used to mitigate the effects of any similar weather events that may occur before the end of 2021. Divided into two tranches of €50 million each, the loan will also help improve the region’s climate resilience, promoting investments in flood prevention and a better response to future adverse weather events.
The EIB and the Polish Ministry of Finance have agreed today on a financial support programme to cope with the consequences of COVID-19. The EU bank will lend €650 million to help the Polish government cover expenses and investments related to the ongoing pandemic.