The European Investment Bank (EIB) is lending EUR 160m to finance improvements to the public transport system in Ukraine’s second largest city. EIB funds will support the extension of the Kharkiv metro network to a residential area with a high population density, making it more attractive for commuters.
The EIB loan will facilitate the shift away from an excessive car use to a more sustainable transport system with positive consequences on climate and the quality of the urban environment in the city. It will contribute upgrading public transport in the southern part of the city of Kharkiv, an area which is currently only served by trolleybuses, buses and mini buses.
This project involves the extension of the existing Green Metro Line by 3.5 km, including two new metro stations – “Derzhavinska” and “Odeska”, the construction of a new depot and the renewal of the fleet via the purchase of 85 new rolling stock units, making up 17 five-car trains. The works are expected to be completed by the end of 2023. The project will be co-financed with the European Bank for Reconstruction and Development.
EIB Vice-President Vazil Hudák stated: “Upgrading urban transport infrastructure in Ukraine is in line with the EIB’s commitment to support projects contributing to the country’s economic development and improvement of the quality of life of its citizens. This is particularly important in Kharkiv, a city with 1.5 million inhabitants that is also home to a large number of displaced people suffering from the current situation in the country’s eastern areas.”
Ukraine Finance Minister Oleksandr Danyliuk commented: “Improvement of transport infrastructure is one of the priorities for our government. This project on modernization of the Kharkiv metro is an important part of the greater plan of urban development. The project will create jobs for local residents, will contribute to the development of public transport network and will increase the level of comfort for every city-dweller."
Head of EU Delegation H.E. Hugues Mingarelli said: "Much needed new investment in Kharkiv metro will connect city's business, universities and daily commuters via a modern and environment friendly transport link, which later could be extended to Kharkiv airport. I have no doubt that this project will also help build this city a stronger economy – something that we consider one of the key foundations of the EU-Ukraine partnership."
With this operation, the EIB’s signed loan portfolio in Ukraine has reached some EUR 5.5 bn since the start of the EIB lending operations in the country in 2007.