The EIB will support the extension of the existing metro line Dnipropetrovsk (Ukraine) with EUR 152m over 25 years. The contract was signed today in Luxembourg by the Ukrainian Finance Minister Yurij Kolobov and EIB Vice President László Baranyay.

The European Investment Bank (EIB) will support the extension of the existing metro line Dnipropetrovsk (Ukraine) with EUR 152m over 25 years. The contract was signed today in Luxembourg by the Ukrainian Finance Minister Yurij Kolobov and EIB Vice President László Baranyay.

The signature and implementation of this project is an example of the enhanced cooperation between the Republic of Ukraine and the EU in the run up to the signature of the Association Agreement, which is expected to take place during the Eastern Partnership summit in Vilnius at the end of November 2013.

The project concerns the extension of the existing metro line in Dnipropetrovsk by four kilometres and the addition of three stations, bringing the metro service to the city centre to serve areas of high urban density and activity. The EIB loan will thus support a key transport infrastructure project for Ukraine with an investment size of EUR 305m in a co-financing structure with EBRD and includes a comprehensive technical assistance package supported under the Eastern Partnership Technical Assistance Trust Fund managed by the EIB.

The project’s implementation, expected to be completed by 2018, will have significant positive effects on the urban environment, such as noise reductions and reduced CO₂ emissions and will be fully in line with the climate change mitigation policy of the Bank.