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power plant >> Hungarian government, Grundfos signs strategic partnership agreement >> GVH greenlights Veolia’s purchase of GDF Suez’s plant >>Bulgaria opens new gas transmission pipeline >> EU gives Romania a due date to close and/or restore 109 landfills > Bulgaria Expects to Choose Builder of Gas Link to Romania > EIB extends backing to SME and mid-top undertakings through BS in Slovenia >WOOD-TEC 2015: 14th International Fair for Wood and Furniture Industry in Brno > Laesti raises more capital for Sauga sawmill in Pärnu, Estonia > Poland’s BZ WBK Lease gets loan of €50 million for sustainable energy projects >Bosch invests HUF 9.3 billion in plant expansion > EBRD increases backing for sustainable energy in the Slovak Republic > EBRD targets increased energy savings in Ukraine >> EBRD and EU aim to and develop the water and wastewater services in Romania’s Ilfov County >> Enea to purchase an additional wind farm in CEE >> UPB Energy to build a EUR 30 biomass energy plant in Latvia 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investments in Belarus >> Clean water for Romania’s Bihor county >> EBRD issues US$ 250 million “Green Bond” >> Water and wastewater modernisation in Dolj >> EBRD supports bottled water producer in Azerbaijan >> Report: The Waste Water Industry of Poland >> Hyundai looking to invest in Waste Treatment in Serbia >> EBRD invests in Russian IT outsourcing provider MAYKOR >> Joint investment with the Russian Direct Investment Fund and CapMan Russia II Fund >> €10 million loan for Albania’s Credins Bank >> Garbage Management Is a Problem in Russia >> Eastern Europe countries must invest in the economic upturn-GfK >> EBRD supports energy efficiency lending and trade >> Serbia’s economy reindustrialization strategy includes the development of IT >> Rompetrol wins US$1.1bn contract to modernise Kazakh refinery >> EBRD helps Ecoprod generate power from biogas >> The largest oil and gas mine in Poland launched >> Ukraine government approves Energy Strategy until 2030 >> Romania aims to raise 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Plants >> New EBRD loan encourages Romanian SMEs to invest in energy efficiency €10 million to UniCredit Tiriac Bank to help the private sector cut energy bills >> EBRD finances water supply improvements in Yerevan €5.4 million to rehabilitate water supply infrastructure operated by Yerevan Djur CJSC >> EBRD 10-year loan for main city on Sakhalin island First major investment in decades for district heating system EBRD is driving energy efficiency in Moldovan households >> Romania passes law backing Nabucco gas pipeline project >> Hungary, Austria, Romania and Bulgaria back Nabucco West over TAP rival >> EDF plans €300m investment in Rybnik plant modernisation (Poland) >> Romania approves cut in green certificates and renewable incentives >> EBRD President Sir Suma Chakrabarti says corruption is deterring investment >> FYR Macedonia investment opportunities presented in Malaysia >> GE is Helping Europe to Improve Grid Efficiency, Enable Optimum Asset Management and Enhance Active 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sources Major new gas plant in Lithuania to replace lost nuclear power >>> EBRD funds Continental’s Russian tyre plant >>> The EU agreement on climate Polish law AAU emission units defended >>> STRABAG to build Europe’s most modern waste treatment plant in Ljubljana >>> EU greenhouse gases in 2011: more countries on track to meet Kyoto targets, emissions fall 2.5 % >>> Protected areas have increased to cover one fifth of Europe’s land >>> EBRD: world’s major waste - flaring gas - could be turned into profit >>> Valcea, Romania, to upgrade water and wastewater services with EBRD loan >>> EBRD directors visit Poland >>> EBRD to finance its first solar power project >>> EBRD unleashes energy efficiency potential of Ukraine’s district heating sector >>> New EBRD financing facility for residential energy efficiency projects in Moldova >>> Giving old tyres a new life >>> Serbia - RWE and EPS (Serbia) sign collaboration agreements >>> Two new hydropower plants in Albania >>> Poland - RAG (Austria) signs deal with GazSystem for gas storage in Poland >>> Poland - Enea signs EPC contract for 1,075 MW supercritical plant (Poland) >>> Ukraine - Ukraine starts construction of 750 kV transmission line >>> Ukraine - Ukraine receives €200m loan for 22 hydropower projects (980 MW) >>> Bosnia - RWE will develop 210 MW of run-of-river capacity in Bosnia >>> ... 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Kiev municipal transport receives a €100 million EBRD financing

2007-08-17 00:00:00

Major upgrades of metro, bus and trolleybus passenger transport to take place

In its first long-term financing for municipal transport in Ukraine, the European Bank for Reconstruction and Development is providing €100 million to municipal transport companies Kiev Metropolitan (metro) and Kiev Pastrans (buses and trolleybuses).

A €40 million loan to Kiev Metropolitan will finance up to 15 new metro trains, which will operate on the Syretsko-Pecherska Line, while a €60 million loan to Kiev Pastrans will finance up to 225 new trolley-buses and up to 125 diesel buses and associated infrastructure. 40 per cent of each loan will be syndicated to commercial banks DEPFA Investment Bank Ltd, Dexia Crédit Local Dublin Branch and HYPO Investmentbank AG.

In the rapidly growing Ukrainian capital with 2.7 million residents, the financing should significantly improve efficiency and overall quality of local transport, stressed Kamen Zahariev, EBRD Director for Ukraine. According to him, with this transaction EBRD continues to support environmentally clean and sustainable public transport alternatives to increased private car usage.

“The project builds on the EBRD’s expertise in structuring new infrastructure projects in partnership with municipalities, providing an example that other financially sound transport companies and municipalities in Ukraine and the region can follow”, said Oxana Selska, EBRD Senior Banker,.

Technical co-operation funds, provided by the governments of France and Italy, have been used to help the companies to prepare technical-feasibility studies, develop long-term business plans, conduct financial audits and develop pilot public service contracts between the city and the companies. Such contracts will be instrumental in helping to establish a transparent structure and in fostering the development of new standards for the provision of public transport. Additional technical co-operation advice will be provided to the city on electronic ticketing system.

Leonid Chernovetsky, Mayor of Kiev, said the city’s strong economy is a result of good local businesses and growing foreign investment, and to boost this further, the city needs to improve local transport infrastructure. “The EBRD has a good reputation for working with local municipalities in central and eastern Europe, and we want to build on that to achieve our objectives”, he added.

The European Bank for Reconstruction and Development is the biggest financial investor in Ukraine. As of the end June 2007 it had committed over €2.9 billion through more than 140 projects.

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