Loan to Modernize Kyiv's Metro System
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a €150 million loan to upgrade the Kyiv metro. The funds will be used to purchase modern train cars and maintenance equipment. The decision was made on June 17, 2026. The loan carries an interest rate of 3.22% per annum, and the designated recipient and manager of the funds is the municipal enterprise 'Kyiv Metro.'
Previous Financing and Tenders
Earlier, in February 2021, a €50 million agreement was signed with the same goal of modernizing the subway. That initial financing was intended for the purchase of 25 walk-through carriages. In 2023, the metro authority announced a tender to acquire 50 modern walk-through carriages, which was won by 'Kryukov Railway Car Building Works.' However, the results of that auction were later annulled, and a new tender was launched in March 2025.
The loan was presented last year at the Ukraine Recovery Conference held in Rome. Kyiv Mayor Vitali Klitschko highlighted the importance of securing funding to improve the city's infrastructure, which should boost public transport development and enhance passenger comfort.
Modernizing the Kyiv metro is a key step in advancing the capital's transportation network, as it will improve service quality and reduce strain on the existing system. The EBRD loan, combined with earlier funding, reflects the ongoing commitment of international financial institutions to supporting Ukraine's infrastructure, particularly relevant during the country's post-crisis recovery. Introducing new technologies and updating rolling stock can significantly increase the metro's efficiency and make public transport more attractive to Kyiv residents.
As Kyiv's metro system undergoes significant upgrades, the recent approval of a €150 million loan highlights ongoing financial support for public transport improvements. In light of this, the city council's concerns about potential fare increases raise important questions about the long-term sustainability of these enhancements and their impact on commuters.