Government allows Ukrzaliznytsia to attract funds from France for rails supply

The Cabinet of Ministers of Ukraine approved a draft law on financial support for the rail supply project of JSC Ukrzaliznytsia within the framework of an agreement between Ukraine and France.

According to Ukrinform, Taras Melnychuk, permanent representative of the Cabinet of Ministers in the Verkhovna Rada, announced this on Telegram.

"The draft Law ‘On the Ratification of the Framework Agreement between the Government of Ukraine and the Government of the French Republic regarding financial support for the rail supply project of JSC Ukrzaliznytsia" was approved,” the report says.

The ratification of the Framework Agreement will allow attracting funds on preferential terms from the government of the French Republic, necessary for the supply of rails for the needs of JSC Ukrzaliznytsia, which arose due to the Russia military aggression. The loan is provided in an amount not exceeding EUR 37.6 million.

As reported by Ukrinform, Ukraine and France signed a number of agreements on cooperation in various fields following the results of a bilateral business conference on the sustainability and recovery of Ukraine, which was held in in Paris on December 13, 2022. One of them is an agreement on a soft loan worth EUR 37.6 million for the supply of 20,000 tonnes of rails produced be France-based Saarstahl company, which will enable the repair of more than 150 km of track.