Ukrzaliznytsia signs agreement with EBRD on preliminary conditions of financing freight wagons purchase

Public joint-stock company Ukrzaliznytsia and the European Bank for Reconstruction and Development (EBRD) on June 22 signed the agreement on preliminary conditions of financing purchase of new freight wagons.

Ukrzaliznytsia Board Chairman Wojciech Balczun wrote on his Facebook page that the total estimated cost of the project is $260 million, including a $150 million loan from the EBRD and $110 million using other sources of financing of Ukrzaliznytsia.

The agreement envisages the possibility of financing in the national currency.

"The project is evidence of growth of investment attractiveness and financial stability of Ukrzaliznytsia. This is confirmed by respected creditors. Today Ukrzaliznytsia has seven projects of financing with international financial institutions (IFIs) and foreign banks in the amount of $1.05 billion. Thanks to internal resources and raised funds we will continue investing in the renewal of rolling stock of our company in line with the development strategy for 2017-2021," he said.

He reminded that total investment for these years will be UAH 130-150 billion.