EBRD to extend € 250 m to Ukraine to get eco-friendly buses

30 / 07 / 2019

By Marwa Nassar - -

The European Bank for Reconstruction and Development (EBRD) will extend € 250 million loan to Ukrainian city of Poltava to replace old buses with eco-friendly buses.

The population of Poltava will soon enjoy journeys on up to 40 new energy efficient and ecologically friendly trolley low-floor buses thanks to a €10 million EBRD loan.

The project will be the first investment under the new €250 million Ukraine Public Transport Framework II, recently approved by the Bank’s Board.

The financing will be extended to the municipal transport company Poltavaelectroavtotrans, which operates 10 trolleybus routes with a total length of 194 kilometres in the central Ukrainian city of 300,000.

The loan will help procure rolling stock with improved accessibility, which will be up to 25 percent more energy efficient than current vehicles, maintenance and diagnostic equipment as well as modernise traction substations. It will also help reduce black carbon and nitrous oxides emissions.

The investment programme will benefit from almost €450,000 in grant support provided by the EU Municipal Project Support Facility.

The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of almost €13.6 billion through 432 projects in the country.