Kyiv will receive a 150 million euro loan from the EBRD to modernize its metro system
23 June 15:43
The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to EUR150 million for the modernization of the Kyiv Metro, according to the financial institution’s website, as reported by "Komersant Ukrainian".
According to the report, the decision was made by the bank’s board of directors on June 17.
“A loan of up to 150 million euros to the city of Kyiv ( ‘the City ’) to finance the purchase of new subway cars, including spare parts and tools, as well as equipment for maintenance and diagnostics ( ‘the Project ’). The ultimate recipient of the loan proceeds is the municipal enterprise ‘KYIV METRO’ (‘ the Company ’), a public transportation company wholly owned by the city and responsible for providing metro services.” – the statement reads.
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As previously reported, Kyiv and the EBRD presented the signed agreement on arranging loan financing of up to 150 million euros for the modernization of the Kyiv Metro at the Ukraine Recovery Conference in Rome in June 2025.
At that time, Kyiv Mayor Vitali Klitschko noted that this was intended to restructure the existing agreement with the EBRD for 50 million euros.
Kyiv first announced a tender for the purchase of 50 subway cars using EBRD loan funds back in 2023, which was won by the Kryukiv Railway Car Building Works (KVBZ), which offered 10 trains for 79.2 million euros (including VAT), which was 37% cheaper than the bid from the second participant—the Czech company Skoda.
The tender was subsequently canceled and re-announced in March 2025, but its results are currently unknown.
On June 19, 2026, the Kyiv City Council approved a loan from the EBRD of up to 150 million euros for the purchase of subway cars.
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