Oleksandr Kava: Ukrainian Cities have a Financial Opportunity to Develop Urban Public Transport

Ukrainian cities have a financial opportunity to develop urban public transport. To date, it is possible from the state budget financing, as well as loans from international financial institutions.

The Deputy Minister of Finance Olexandr Kava announced this and told about the development of transport infrastructure in Kyiv and other cities during the TV program "Today. The main thing" on TV channel Kyiv UA.

During the live broadcast, Oleksandr Kava told viewers about the main and promising sources of financing for urban transport infrastructure, as well as about the opportunities for local governments to develop their own transport infrastructure and urban public transport.

"The most feasible source of financing the transport infrastructure currently is the state budget financing, the possibilities of which has increased in the process of decentralization, as well as loans from international financial institutions such as the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). For example, the construction of the subway in the city of Dnipro is at the expense of loans from these banking institutions, and the extension of Metro Line III in Kharkiv is also planned,” Oleksandr Kava noted.

In particular, he told the viewers about ways of financing the construction of the subway line to the Troieshchyna district in Kyiv.

"Local governments must develop urban public transport on their own, this is a normal practice all over the world. The funds invested by local authorities in the development of the city's transport infrastructure and urban transport are recouped by indirect methods. People will spend less time on travel, and therefore more on their economic activity and stimulating economic development.

There is an opportunity for the local authorities to attract funds for the construction of the subway to Troieshchyna. The first line is expected to be 7 km long and will include 6 stations. The Podilskyi Bridge is almost complete, and in its construction the infrastructure for the future subway has already been actually arranged and 3 stations have been built.

If this process is launched, the first phase of the line of the subway to Troieshchyna may become a reality in 2024" - said the Deputy Minister of Finance.