EBRD to direct €98.5 million to support Ukrzaliznytsia liquidity
The European Bank for Reconstruction and Development will additionally direct 98.5 million euros to support the liquidity of Ukrzaliznytsia under the project "Electrification of the railway route Dolynsk – Mykolaiv – Kolosivka."
It was reported by the press service of the Ministry of Finance of Ukraine.
It is noted that part of the EBRD loan in the amount of EUR 98.5 million will be directed to ensuring liquidity to finance the critical needs of Ukrzaliznytsia.
Corresponding changes to the guarantee agreement of the electrification project of the Ukrainian railway, "Electrification of the railway route Dolynsk – Mykolaiv – Kolosivka" was signed on September 1 by Ukraine's Minister of Finance, Serhiy Marchenko, and the director of the EBRD in the countries of Eastern Europe and the Caucasus, Matteo Patrone.
In addition, the chairman of the board of Ukrzaliznytsia, Oleksandr Kamyshyn, and Matteo Patrone signed an agreement on amendments to the agreement on granting a loan within the project's framework.
The government of France or another G7 country will guarantee the repurposed part of the EBRD loan.
Reference
In June 2022, the EBRD signed amendments to the agreements within the framework of the Ukrainian railway electrification project, according to which EUR 50 million was directed to support the liquidity of Ukrzaliznytsia (the total volume of the EBRD loan for the liquidity of Ukrzaliznytsia is EUR 148.5 million).
