As Ukrainian Railways has been trying to complete the purchase of new rolling stock, the US Export-Import Bank extends an aiding hand. The bank is providing a 156 million dollar loan over a period of 15 years to finalise a purchase deal. The loan puts Ukrainian Railways in a position to buy 40 new diesel locomotives from Wabtec.
The funding allows Ukrainian Railways to complete negotiations with Wabtec and start purchasing procedures. “Ukrzaliznytsia has a successful experience of operating Wabtec diesel locomotives, the purchase of which at one time strengthened the company’s capabilities,” according to Ukrainian Railways chair Yevhen Lyashchenko.
Lyashchenko also stated that the rail operator is the first Ukrainian state-owned company to receive financing from the US bank. He characterised the loan as part of US support for Ukraine during wartime, saying that “this agreement is a continuation of the US state policy of supporting Ukraine in a difficult period, on the other hand, it is a recognition of the strategic role of Ukrzaliznytsia in providing passenger and freight rail transportation, including the evacuation of the population from the front-line zone and close to the combat zone, maintaining food security thanks to ensuring the export of grain.”
“Ukraine is where investments should be”
For its part, the chair of the Export-Import Bank says that both the US and Ukraine benefit from the deal. This agreement symbolizes that recovery processes in Ukraine are starting despite the war, and it will be a win-win for both countries because Ukraine will receive critically needed equipment. At the same time, this project provides an impetus for our private sector to become increasingly involved in the recovery in Ukraine,” she says.
“We, like no one else, feel the rhythm of Ukraine’s life in our hearts and try with all our might to help it. Our goal is to develop export-import activity. Ukrainian-American cooperation is getting stronger, and our government is absolutely convinced that Ukraine is the place where investments should be,” the chair concludes.
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