Ukrainian Railways to receive $25 mln in grant financing from World Bank

MOSCOW. Feb 21 (Interfax) - Ukrainian Railways (Ukrzaliznytsia, UZ) will receive half of the $50 million in grant financing announced by the World Bank (WB) and will use the funds to buy and build fitting (container) platforms, Ukrainian media reported, citing Ukrzaliznytsia CEO Alexander Kamyshin.

"The World Bank is allocating $50 million, $25 million will go to UZ. These are two projects of platforms for container transportation: procurement and construction," Kamyshin said, adding that UZ had not yet received funds, but they are about to be earmarked.

The World Bank has announced an additional $50 million in grant funding for the repair and reconstruction of Ukraine's transport network, increasing the capacity of export and import corridors, as well as for humanitarian aid, half of these funds will go to the newly created State Restoration Agency for the reconstruction of bridges.

The WB grant financing will be provided in addition to the $535 million in loan funds approved earlier.