The European Investment Bank (EIB) and Kyiv have signed a €50 million loan agreement for the purchase of new subway cars. This initiative is aimed at modernising the Kyiv metro and ensuring reliable transport for the city's residents. The agreement was signed today, 24 September, at the EIB's headquarters in Luxembourg during a visit by a delegation from the Kyiv City State Administration.

Before the war, about 80% of the rolling stock of the Kyiv metro was russian-made, so ending this dependence is an urgent strategic task. More than 60% of the fleet has already exceeded its useful life, and the new funding will enable the replacement of outdated cars with modern, energy-efficient alternatives from local or international suppliers. This is in line with the Kyiv City Development Strategy 2025 and the National Transport Strategy of Ukraine 2030, which aim to create a more sustainable and reliable public transport system.

The €50 million provided with the support of the EIB's EU for Ukraine Fund is the first instalment of a €200 million loan provided by the bank. This initial amount is earmarked exclusively for the purchase of new metro cars for Kyiv. The remaining €150 million will be disbursed after the completion of a feasibility study (also financed by the EIB), which will assess the feasibility of purchasing new metro cars versus modernising part of the existing fleet.

The total financing will enable the Kyiv Metro utility, which operates the Kyiv metro system, to renew or replace 120-160 wagons, improving the city's transport infrastructure.

‘Despite the full-scale invasion, Kyiv continues to develop. All sectors of the city's economy have been reoriented to work in wartime conditions. It is not only about ensuring their stable operation, but also about developing them with the introduction of modern technologies. International donors are also actively involved in this. The EIB is a long-standing reliable partner of Kyiv. The project to modernise the rolling stock of the Kyiv metro is important for the city, and we are very grateful to the EIB for supporting its implementation. The metro is one of the most popular means of transport in the capital. Millions of passengers use it every day. Therefore, the purchase of modern and energy-efficient subway cars means, first of all, enhancing the safety of passenger transportation and rational use of funds from the city budget for the maintenance of rolling stock. This is an urgent and priority issue today, given the martial law in Ukraine,’ said Mykola Povoroznyk, First Deputy Head of the Kyiv City State Administration.

The European Investment Bank remains committed to supporting Kyiv and other Ukrainian cities in modernising their infrastructure, especially in the face of the ongoing challenges of wartime, said Tereza Czerwinska, EIB Vice President responsible for the bank's operations in Ukraine.

‘The Kyiv Metro is a critical transport artery and this investment will significantly increase its reliability and resilience. By reducing dependence on russian-made rolling stock, spare parts and maintenance equipment, this cooperation is an important step towards strengthening Ukraine's independence and bringing its transport systems in line with European standards. Reliable transport links are vital for economic development and the comfort of city residents,’ she said.

The EIB continues its long-standing cooperation with the Kyiv authorities and is actively working on urban transport projects supported by EIB loans. The aim of these initiatives is to modernise the capital's public transport fleet. Kyiv has already received 20 new low-floor trams, and additional modern buses, funicular and metro cars are expected to be delivered in the near future.

Since the beginning of 2022, the EIB has provided immediate assistance to Ukraine, disbursing more than €2 billion for urgent repairs to critical infrastructure. Through the Bank's EU for Ukraine Initiative, as well as the EIB's key role in the implementation of the EU's €50 billion Ukraine Facility, the Bank remains committed to strengthening its activities in Ukraine in line with the mandate given by EU leaders and in close cooperation with the European Commission, the European Parliament, EU Member States and international partners.

For reference.

EIB Global is a unit of the EIB Group established to increase the impact of international partnerships and develop funding beyond the EU. It aims to foster strong and focused partnerships with Team Europe and within the framework of the EU's Global Gateway strategy, in cooperation with other development finance institutions and civil society. EIB Global, with offices around the world, brings the EIB Group closer to people on the ground, as well as local companies and institutions.

The EIB's EU for Ukraine Fund (EU4U) was established in 2023 as part of the bank's wider EU for Ukraine Initiative. The Fund aims to accelerate EIB Global support for Ukraine's most urgent infrastructure needs and help stabilise the country's economy. The Fund supports important recovery and reconstruction projects involving both the public and private sectors, and improves access to finance for entrepreneurs in Ukraine. To date, the total amount of commitments to the Fund declared by EU member states exceeds €420 million.