EU to invest 4.5 bln in Ukrainian transport industry

EU to invest 4.5 bln in Ukrainian transport industry

Ukrinform
The European Union is interested in high-level transport cooperation with Ukraine and further development and reformation of the transport sector in accordance with EU norms and standards.

European Commission’s Director-General for Mobility and Transport Henrik Hololei made a corresponding statement at a joint press briefing with Ukrainian Infrastructure Minister Volodymyr Omelyan on occasion of the EU-Ukraine High-Level Transport Dialogue in Odesa, an Ukrinform correspondent reports.

"At the beginning of 2019, Ukraine joined the TNT-T network and became an eastern partner of the EU. This means that the transport corridor does not end on the western border of Ukraine, but goes further east through Ukraine. This decision of the EU sparked raising investment in this direction. In particular, EUR 4.5 billion will be invested with the help of the World Bank to develop and implement 39 projects in the Ukrainian transport sector," Hololei said.

As the European Commission’s Director-General for Mobility and Transport noted, "it is our priority in financing the important projects that are planned to be implemented. We want Ukraine to use its advantageous geographical location and become a kind of transport hub, a strategic partner and part of the transport corridors between Europe and Asia."

Hololei underscored the importance of the decision of the Government of Ukraine on participation in the development of new railway corridors and the readiness of the Ukrainian Railways to be part of this project. There is also significant progress in the field of aeronautics, which ensured further cooperation between Ukraine and the EU in the area of aviation security and air navigation.

However, the European Commission’s Director-General pointed to some shortcomings. In particular, the European Commission “is dissatisfied and disappointed that previously drafted legislative acts on the reform of Ukrainian transport system have not yet been adopted by the Parliament, primarily on rail and river transport as the reforms can only be implemented within the appropriate legislative framework. We will continue to work with the leadership of Ukraine so that these legislative acts will be approved.”

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