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Chinese banks pledge $1.7 billion loan to City Council of Kyiv for Fourth Metro Line in Kyiv Project
| Funder | Unspecified Chinese Government Institution |
|---|---|
| Recipient Organization | City Council of Kyiv |
| Country | Ukraine |
| Start Date | Jan 01, 2017 |
| End Date | May 13, 2030 |
| Duration | 4,880 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66070 |
Grant Description
Chinese banks pledge $1.7 billion loan to City Council of Kyiv for Fourth Metro Line in Kyiv Project In May 2017, the City Council of Kyiv and the Chinese Government signed a memorandum of understanding (MoU).
Under the terms of the MOU, the Chinese Government agreed in principle to issue a $1.7 billion to support the construction of the fourth metro line in Kyiv.
This metro line would add 20km of track with 13 stops to link the city center of Kyiv to the residential area of Troieshchyna.
The Ukrainian Government issued a sovereign guarantee in support of the loan.
The total cost of the project is $2 billion USD in total with 85% of the funding to come from Chinese financial institutions and the other 15% to come from the city of Kyiv.
In 2017, the construction contract was awarded to a Chinese consortium made up of Chinese Pacific Construction Group and China Railway International Group as a part of China's larger Belt and Road Initiative.
On November 12, 2018, China Railway International Group (CRIG) reportedly completed a preliminary project feasibility study.
The project was originally slated to commence in 2018 and take 4-years to complete; however, the current status of the loan and the progress of the project are unknown.
Staff Comments
This project is also known as Fourth Metro Line in Kiev Project. The Ukrainian project title is будівництва четвертої лінії метро у Києві.
Sources & References
- Chinese projects in Ukraine, “一带一路”在乌克兰有了落实路线图
- Chinese consortium to build metro line in Kiev
- Kyiv mayor signs agreement with China on construction of metroline to Troyeshchyna with China
- Kyivmetrobud to extend Metro to Vinogradar
- Chinese consortium to build line to Troyeshchyna
- 五、乌克兰与中国的经贸合作
- Video: The Mayor of Kiev has signed an agreement on the construction of a subway in Troyeschyna
- Chinese consortium to build Kyiv metro Line 4
- Chinese firms lined up for $2bn Kiev subway line
- Chinese consortium to build metro line in Kiev
- Kyiv city signs memo on building fourth subway line with Chinese consortium
- UKRAINE: KYIV CITY SIGNS MEMO ON BUILDING FOURTH SUBWAY LINE WITH CHINESE CONSORTIUM
- EBRD loan for Kiev Metro
- Chinese consortium to back USD 2.7bn Kiev metro
- Kiev authorities signed a memorandum with Chinese companies on the construction of the fourth metro line
- Kyiv Metro Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
City Council of Kyiv
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