EBRD ready to double funding for rail projects in Ukraine
The European Bank for Reconstruction and Development (EBRD) stands ready to double the funding for rail projects in Ukraine, provided the industry undergo reforms. “Bankers and railway officials see electrification and the upgrade of rolling stock among the promising new projects that may appear later this year,” the press service of the State Administration of Railway Transport of Ukraine (Ukrzaliznytsia) reports. In January 2009, the EBRD announced its decision to provide a line of credit worth 62.5 million dollars for 10 years to Ukrzaliznytsia, with the credit’s purpose being the purchase of freight cars within the framework of the rolling stock upgrade program. In 2004, Ukrzaliznytsia and the EBRD signed a loan agreement worth 120 million dollars. Credit was provided for 15 years under the government’s guarantee, with an interest rate of LIBOR plus one percent. The funds were intended to help introduce high-speed passenger rail transportation throughout Ukrainian territory, particularly through the purchase of rolling stock (about 49 million dollars) and railway repair equipment (about 29 million dollars), as well as construction of the Beskyd railway tunnel (about 40 million dollars).
Europe will help Rivne get rid of its waste
Fifteen tons of useless pesticides, which have been stored in the warehouses of Rivne oblast for 20 years, will be removed by European countries for recycling. About 100 tons will be placed in containers. There are about 180 tons of “inherited” pesticides from former collective farms. “Unfortunately these pesticides are not yet identified,” Anatolii Yukhymenko, first Rivne Regional State Administration deputy head, said. “After an inventory we will put all the pesticides into containers and take 15 tons to European countries that have enterprises able to recycle such chemical pro-ducts.” Since recycling one ton costs about 25,000 hryvnias, the Rivne authorities turned to the Cabinet of Ministers to assign funds to at least co-finance the project. The Rivne oblast also has a problem linked to the recycling of luminescent lamps that requires an urgent solution.
