Ukraine’s Cabinet of Ministers approved the attraction of two total loans of EUR 320 million, provided by the European Investment Bank (EIB) and European Bank for Reconstruction and Development (EBRD) for Kharkiv metro expansion.
The total value of the project is EUR 382 million, of which, EIB and EBRD co-financing is EUR 160 million each.
Under the loan transfer process, the Finance Ministry, Kharkiv Metropoliten and Kharkiv City Council will sign an agreement.
The Kharkiv metro development project involves the construction of a 3.5 km line, two stations and a depot (Oleksiyivske depot) and will increase the network’s passenger transport to 25 million per year. Currently, the city’s metro system consists in 3 lines with a total length of 37.6 km and 30 stations.
On September 29, Kharkiv Metro Company launched a tender for the extension of the existing metro line and the acquisition of new rolling stock, cofinanced by the EIB and EBRD.
The project will address key challenges in the public transport infrastructure development of the city of Kharkiv, including improving access to clean urban transport and increasing the capacity and efficiency of public transport services.