Ukrainian Railways receives €6.7 mln EU grant to support rail transport services
€6.7 million EU grant coordinated by the EIB issued to Ukraine to cover the urgent needs of Ukraine's rail transport company Ukrzaliznytsia.
The EU grant will cover the most urgent needs of Ukraine's only railway company.
What is the problem?
Since the beginning of the full-scale war, Ukrzaliznytsia has transported 277 foreign delegations and evacuated 4 million citizens, including a million children. 2.5 thousand wounded were evacuated by medical trains.
What is the solution?
The European Investment Bank and Ukrzaliznytsia have signed an EU grant agreement in Kyiv worth €6.7 million to back the company's activities during the war.
The EU grant will cover the most urgent needs of Ukraine's only railway company, which is keeping the country's economy and people moving amid a brutal second year of war.
How does it work?
The grant was originally earmarked for the EIB Ukraine railway modernization project to upgrade and electrify part of the railway system in Ukraine.
With the war, needs have changed. Following a decision from the European Commission, the original grant was repurposed to provide urgent emergency support to Ukrainian Railways so that it can continue its railway operations and support urgent passenger and humanitarian aid transport needs.
Building on the crucial support from the European Commission, this grant will cover most urgent needs so that it can keep its life-saving operations running. As this initiative demonstrates, we remain committed and flexible in standing with Ukraine, said Rafal Rybacki, head of the EIB division for public sector lending operations in EU neighbouring countries.
The European Commission is working with the Ukrainian authorities to overcome the challenges created by the Russian military aggression and to support Ukraine's rapid recovery.
Since Russia's unprovoked and unjustified war of aggression started, the European Union, and financial institutions have remained united in their unwavering support for Ukraine, in line with a Team Europe approach.
