The funding will support further integration of Ukraine’s domestic railway system into international networks.

The EBRD subscription is approximately 17% of the total $US 600m issue, which will be listed on the Euronext Dublin stock exchange. The invested funds will be used for the rehabilitation of priority railway lines, predominantly on the Trans-European Transport Network (TEN-T) corridors.

This will facilitate further improvement of UZ’s financial performance while also supporting its strategic investment plans. UZ currently operates a 23,000km-long network, making it the 14th largest in the world. The company is also the world’s sixth largest rail passenger operator and the world’s seventh largest freight transporter by volume.