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KFW to Provide a 60 M EUR Loan to Ukraine for Loco Modernization
June 30, 2016
The German Development Bank, Kreditanstalt für Wiederauftbau (KFW), will offer a loan to the Ukrainian Government for Ukrainian Railways’ modernization, the RZD-Partner reports. The agreement was reached in course of the Ukrainian Prime Minister Vladimir Groisman’s visit to Germany.
KFW is to provide a 60 M EUR loan to acquire equipment for restoring and modernization of the locomotives owned by Ukrainian Railways. The details of the loan will be agreed in July.
The wear of the Ukrainian locomotive fleet ranges from 72% (mainline electric locomotives) to 99.5% (mainline diesel locomotives).
The Ukrainian Government earlier reported that no locomotives will be acquired to renew the tractive rolling stock fleet as no funding was available for the purpose.