The Cabinet of Ministers of Ukraine has approved the attraction of more than €17 million from the European Investment Bank (EIB) to support the development of urban transport across the country. This decision was announced by Prime Minister Denys Shmyhal during a recent government meeting.
"Today we are also making two important decisions. First, we are approving the draft of the President's order, which will allow us to attract more than €17 million from the European Investment Bank for Ukraine's urban transport development project. These funds will go to communities to finance payments for the renewal of municipal fleets," Shmyhal stated.
The allocated funds are intended to assist local communities in updating their public transportation systems, including the purchase of new buses, trams, and other essential vehicles. This initiative aims to enhance the efficiency, safety, and environmental sustainability of urban transport services throughout Ukraine.
Background
Earlier this year, the Ukrainian government demonstrated its commitment to improving transportation infrastructure. In the summer, the Cabinet of Ministers decided to allocate a subvention from the state budget to local budgets amounting to 1 billion hryvnias for the purchase of school buses in 2024. This move was aimed at ensuring safe and reliable transportation for students across the country.
About the European Investment Bank
The European Investment Bank is the lending arm of the European Union, dedicated to supporting projects that promote EU policy objectives. The EIB's investment in Ukraine's urban transport development reflects a continued partnership aimed at fostering sustainable development and integration with European standards.
