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EBRD Supports Rehabilitation of Key Railway Lines in Ukraine
EBRD Ukraine, Kyiv, Ukraine,
Wed, September 11, 2019
- EBRD subscribing tap issue for US$ 100 million of the Eurobond by Ukraine Railways
- IFI investing in bonds issued by a state-owned company
- Funds to be used for rail track rehabilitation
The EBRD is supporting further integration of Ukraine’s domestic railway system into international networks by investing up to US$ 100 million in bonds issued by Ukraine’s national rail transport company Ukraine Railways (UZ).
The EBRD subscription is approximately 17 per cent of the total US$ 600 million issue. The bonds will be listed on the Euronext Dublin. The invested funds will be used for the rehabilitation of priority railway lines, predominantly on the Trans-European Transport Networks.
It will facilitate further improvement of UZ’s financial performance as well as support its strategic investment plans. UZ possesses a total track length of over 23,000 km, making it the 14th largest in the world. It is the world’s 6th largest rail passenger transporter and the world’s 7th largest freight transporter.
The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of almost €13.6 billion through 432 projects in the country.