EIB pledges EUR 41 million loan for modernisation of Ukraine’s air navigation system
March 16, 2013.
The European Investment Bank (EIB) is providing a EUR 41 million loan to finance a comprehensive programme implemented by the Ukrainian State Air Traffic Service Enterprise, focused on modernising and upgrading Ukraine’s air navigation system.
The EIB loan will finance the replacement and modernisation of surveillance infrastructure, air traffic management systems, the upgrade of communication and navigation systems and the construction of aerodrome control towers.
EIB Vice-President Anton Rop stated: “EIB funds will contribute to safer and more efficient air navigation in Eastern Europe for the benefit of Ukraine as well as its partners in the European Union”.
The project that will be co-financed by the European Bank for Reconstruction and Development (EBRD) is part of the comprehensive programme to modernise Ukraine’s air traffic management infrastructure within the framework of the European Single Sky Implementation Plan.
The EIB – the European Union’s bank – has so far provided loans in Ukraine, including the current loan, totaling some EUR 1.9 billion covering projects in the energy, transport and water sectors, and – indirectly through commercial banks – operations supporting SMEs.
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