Ukrainian state railway UZ has received a €100 million loan from the European Investment Bank (EIB) for the reconstruction of railway infrastructure and strengthening of rail freight transport. The loan, which comes from remaining funds in the Special Fund of the Ukrainian State Budget, was allocated by the Cabinet of Ministers of Ukraine for a new budget programme. The funds will be used for the planning and resumption of construction and rehabilitation of facilities, modernisation of railway infrastructure and acquisition of capital stock. Ukraine and the EIB had already signed an agreement in 2016 for a €6.7 million grant for the modernisation of UZ, which had to be restructured due to the war against Ukraine. The total cost of the modernisation project is around €300 million.
