The European Bank for Reconstruction and Development (EBRD) is providing a €16 million loan to the City of Cherkasy in Ukraine to support the purchase of modern trolleybuses and the upgrade of associated infrastructure. This investment aims to strengthen sustainable urban mobility and ensure uninterrupted public transport services despite the ongoing wartime challenges in Ukraine. The loan, fully guaranteed by the City, will be complemented by an investment grant of up to €4 million from the EBRD Shareholder Special Fund.
It will also benefit from partial first loss risk cover under the European Union’s Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience Programme, which promotes green transition and economic resilience by supporting sustainable investments in urban infrastructure, energy efficiency, green logistics, and technology transfers.
The financing will enable Cherkasyelektrotrans, the municipal public transport operator, to expand its fleet with new low-floor trolleybuses, modernise depots and other supporting infrastructure, and extend and realign three trolleybus routes. This project is part of the EBRD’s Resilience and Livelihoods Framework, which seeks to safeguard essential municipal services during wartime. The initiative will improve mobility for residents, including internally displaced people, while significantly reducing polluting emissions and enhancing air quality. In line with the Paris Agreement’s climate goals, the project is classified as 100 percent green finance.
In addition to environmental benefits, the project promotes social inclusion and gender equality. It will increase accessibility for passengers with limited mobility and, through a partnership with UN Women’s She Drives programme, provide training and certification for women and youth as trolleybus drivers.
By investing in Cherkasy’s public transport system, the EBRD is helping the city maintain vital services, enhance resilience, and advance its green transition during an unprecedented period of challenge. Since the beginning of Russia’s full-scale war in 2022, the EBRD has significantly increased its support for Ukraine, deploying more than €8.5 billion to bolster energy security, critical infrastructure, food security, trade, and private sector development.
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