The project promoter is the Ministry of Infrastructure of Ukraine / Photo from UNIAN
Five major cities, including Kyiv, will benefit from the EIB loan.
The European Investment Bank (EIB) is lending EUR 75 million to finance major investments in urban road safety in five cities of Ukraine: Dnipro, Kharkiv, Kyiv, Lviv and Odesa, which have a combined population of around 7 million.
"The improvement of road safety is a priority for the Ukraine government in its fight to reduce the number of accidents and casualties and to create a modern transport system that is supportive of economic growth. As such, the project is supported by a EUR 4.25 million EU grant provided by the Neighbourhood Investment Facility (NIF) for project preparation, capacity building and monitoring," the Delegation of the European Union to Ukraine said in a statement on July 9.
The EIB loan will complement the EU grant, thus providing more resources for helping to upgrade key municipal infrastructure.
The cities where the infrastructure upgrades will be carried out are among Ukraine's most important cities with populations ranging from more than 700,000 in Lviv to around 3 million in Kyiv.
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The project promoter is the Ministry of Infrastructure of Ukraine while the final beneficiaries of the EIB funds will be the municipal authorities of the cities mentioned.
The investments to be supported will be aimed at eliminating the most dangerous road accident blackspots through better connections and modern traffic systems, as well as upgrading intersections and junctions and renovating street infrastructure. Investments will also improve access to public transport for local people. Other supported actions include the development of safe cycle and pedestrian networks, urban transport planning, the introduction of reduced speed in residential areas and school zones, and IT traffic management systems.
"The EIB loan will help make Ukraine's major cities safer and more liveable thanks to an improved urban environment and a better road and transport system. This will transform those cities into more attractive places to live for their citizens, visitors and businesses alike, while also stimulating economic growth," EIB Vice-President Vazil Hudák was quoted as saying.
Head of the EU Delegation to Ukraine, Ambassador Hugues Mingarelli, in turn said, said: "I am sure that this project will help to save many human lives, which are unnecessarily lost every year in traffic accidents in Ukraine. I am confident that all the practical experience gained first in five large cities will later be used throughout Ukraine so that Ukrainians will eventually feel safer on their roads."