(PRESS RELEASE) KHERSON, Ukraine, 29-Oct-2019 — /EuropaWire/ — EBRD announces it is providing up to €10 million to the city of Kherson in Ukraine for replacement of their old fleet of trolley buses. The EBRD’s loan will be coupled with an investment grant of up to €1.5 million from the EU Neighbourhood Investment Platform and the financing is part of EBRD’s Public Transport Framework II. The funding will go for Khersonelectrotrans, which is Kherson city’s major transport utility. The transport company operates 15 trolley bus routes covering almost 120 kilometres and serving more than 40,000 passengers daily. The Ukrainian city, having a population of approximately 300,000, is going to use the funds to purchase modern and ecologically friendly rolling stock, including up to 50 new trolleybuses, spare parts as well as maintenance and diagnostic equipment. Part of the financing will also be used for the modernisation and extension of the existing catenary network and the rehabilitation of the traction power substations.
Ecological and environmental effect from the upgraded bus fleet for the city is expected to be in the range of 20 per cent reduced energy consumption as well as annual CO2 emissions lowered by almost 4,000 tonnes.
The due diligence, project implementation measures as well as corporate development and sustainable urban mobility plan for Khersonelectrotrans will be covered by the grant funding of up to €850,000 provided by the EU and the EBRD-Ukraine Stabilisation and Sustainable Growth Multi-Donor Account.
EBRD has been active in Ukraine for over 25 years and is the country’s largest international financial investor. Since 1993, when the bank begun its operations in Ukraine, nearly €13.6 billion have been committed through 432 projects.