Ukraine and the European Investment Bank signed important international agreements on the issues of upgrading the state power system and the Ukrainian roads. The signing of the documents took place within the framework of the visit of Prime Minister of Ukraine Volodymyr Groysman to Brussels.
Among the signed documents is the Memorandum of Understanding with the Ministry of Finance of Ukraine and the European Investment Bank, the Guarantee Agreement between Ukraine and the European Investment Bank within the framework of the Substations Reliability Improvement Program project, as well as a financial agreement between the NJSC Ukrenergo and the European Investment Bank.
The Substations Reliability Improvement Program project is aimed to increase the efficiency and reliability of the national power transmission infrastructure to ensure its integration with the network of system operators of electricity transmission in Europe by replacing obsolete equipment of high-voltage substations with the simultaneous transition to modern circuit distribution devices and installing automated control systems for technological processes at substations of the south-eastern region of Ukraine.
The project envisages the upgrading of 11 substations to 330 kV and 1 substation to 750 kV of the Dniprovska electric power system.
The process will be implemented in the Dnipropetrovsk region at 8 substations (Nikopolska, Promethey, Pivdenna, Pershotravneva, Kamyanska, Dniprovska, Pavlogradska, Hirnycha), in the Zaporizhia region - at 2 substations (Melitopolska, Zaporizka), in the Kirovograd region (Kvartsyt), in Donestk region (Pivdennodonbaska).
The Memorandum of Understanding between Ukraine and the European Investment Bank stipulates, in particular the implementation of the project Ukrainian Urban Road Safety. The EU grants a loan worth EUR 75 million to finance the relevant works in the cities of Dnipro, Lviv, Odessa, Kamyanets-Podilsky, Kharkiv, and Kyiv. The activities included range from direct rehabilitation of road infrastructure to the use of auxiliary measures, namely the developing of facilities for cyclists and pedestrians, emissions reduction.