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Ukraine’s railway sector to get 90 mln dollar loan

September 26, 2011, 14:49 UTC+3

This is the first project of the EBRD with a privately owned provider of rail transportation services in Ukraine

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KIEV, September 26 (Itar-Tass) — Ukraine’s private rolling stock owner Interleaseinvest will get a 90 million dollar loan from the European Bank for Reconstruction and Development and a syndicate of European banks to buy freight wagons.

According to a statement issued by the EBRD on Monday, the EBRD extends half of the loan, and another half will be syndicated to Raiffeisen Bank International AG, Erste Group Bank AG and UniCredit Bank Austria.

This is the first project of the EBRD with a privately owned provider of rail transportation services in Ukraine.

Interleaseinvest plans to buy around 2,500 freight wagons – gondola and hot pellet types.

The Ukrainian rail sector is one of Europe’s largest but most of the freight transportation services are provided by the State Administration for Railway Transport of Ukraine, whose wagon fleet is aging.

The EBRD is Ukraine’s largest financial investor. The bank has already financed 276 projects worth 9.3 billion dollars.

 

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