EBRD backs green transport upgrade for Cherkasy, Ukraine

• With EU support, EBRD lends €16 million to Cherkasy municipal transport operator
• Project will deliver new trolleybuses, improving accessibility and air quality
• Initiative supports resilience of Ukraine’s cities in wartime

The European Bank for Reconstruction and Development (EBRD) is lending €16 million to the City of Cherkasy in Ukraine to finance the purchase of modern trolleybuses and the upgrade of related infrastructure for the city. The investment will strengthen sustainable urban mobility and ensure uninterrupted public transport services amid the wartime challenges facing Ukraine.

The loan, fully guaranteed by the City, will be co-financed by an investment grant of up to €4 million from the EBRD Shareholder Special Fund and will benefit from partial first loss risk cover under the European Union’s Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience Programme (UIF MIIR). This promotes green transition and resilience in Ukraine’s economy by supporting sustainable investments in green city infrastructure, greening logistics chains, energy efficiency and green technology transfers.

The financing will enable Cherkasyelektrotrans, the municipal public transport operator in Cherkasy, to expand its fleet with new low-floor trolleybuses, modernise depots and other infrastructure, and extend and realign three trolleybus routes. 

The project forms part of the EBRD’s Resilience and Livelihoods Framework, aimed at safeguarding essential municipal services during wartime. It will improve mobility for residents, including internally displaced people, and significantly reduce polluting emissions, contributing to better air quality. Aligned with the Paris Agreement’s mitigation and adaptation goals, the project is classified as 100 per cent green finance.

It also promotes inclusion by increasing accessibility for passengers with limited mobility and supporting gender equality through a partnership with UN Women’s She Drives programme, which will train and certify women and youth as trolleybus drivers.

By investing in Cherkasy’s public transport system, the EBRD is helping to maintain vital services, strengthen resilience and advance Ukraine’s green transition during a time of unprecedented challenge.

The EBRD has substantially increased its investments in Ukraine since Russia began its full-scale war there in 2022, deploying more than €8.5 billion to support energy security, vital infrastructure, food security, trade and the private sector.