The European Investment Bank (EIB) and Kyiv Mayor Vitali Klitschko signed a €100 million loan agreement to renew the city’s trolleybus and metro fleets.

The EIB’s financing will increase the availability and improve the quality of sustainable urban public transport in Kyiv, the capital and largest city of Ukraine with a population of around three million.

“As the EU climate bank, we believe that developing an efficient system of electric public transport is integral to combating air pollution and increasing Ukraine’s contribution to global climate action,” said Jean-Erik de Zagon, Head of the EIB Resident Representation in Ukraine.

This is the first sub-sovereign loan provided by the EIB in Ukraine that is offered on a standalone basis to a municipality without the government’s participation. This new financing model complies with the Ukrainian government’s strategy of financial decentralisation and delegation.