Kryvyi Rih attracts funding for the purchase of trams and infrastructure development.

Pub Date:January 25, 2021

Municipal electric transport is a promising and ecological type of transport. That is why Kryvyi Rih continues to work towards the organization of the purchase of 50 tram cars and the reconstruction of the tram line on the Sobornosti street, despite the obstacles caused by the pandemic of coronavirus disease COVID-1. The investment partner of the project is the International Finance Corporation (IFC).

This infrastructure project will make city electric transport more comfortable and accessible followinginternational standards.Increasing the number of rolling stock will reduce the interval of movement, and low-floor trams will meet the needs of citizens with limited mobility.
The project provides for up to 27 million euros for the purchase of 50 tram cars of two types for use both on city streets and on underground routes. The IFC Credit Committee has already approved it, and detailed funding terms for the project are being agreed.
For reference: The International Finance Corporation is a financial institution within the World Bank Group that provides investment services, advisory services and loans for economic development. On May 16, 2019, the city signed a memorandum of cooperation with IFC, and on January 27, 2020,specific agreements for the project were signed.
In February 2020, the city council approved an agreement with IFC (decision of the city council of 26.02.2020 4530 "On approval of the Agreement between the Kryvyi Rih City Council, the Communal Enterprise"High-Speed Tram"and the International Finance Corporation (" IFC ")").