The funding will support Ukrainian Railways (Ukrzaliznytsia) in improving connections with Poland, Slovakia, Hungary, and Romania. 

The project will include repairs to tracks, the relocation of wagon inspection facilities, the reconstruction of an intermodal terminal, and the installation of new gantry cranes. The modernization efforts are co-financed by the EU Connecting Europe Facility and supported by the EIB's advisory services.

The financing is part of the EIB's broader €150 million support package for modernizing Ukraine's railways. In 2022, the EIB provided the first €100 million to finance emergency repairs and restore essential rail services, complemented by a €6.7 million EU grant to address urgent wartime needs.

EIB Vice-President Teresa Czerwińska said: “Upgrading border crossing points and key rail links will help remove bottlenecks, accelerate the flow of goods and support Ukraine's deeper integration with the European Union.”

The EIB Group has provided significant support to Ukraine since the onset of Russia's full-scale invasion, disbursing €2.2 billion since 2022. Under a guarantee agreement with the European Commission, the EIB is set to invest at least €2 billion more in Ukraine's recovery and reconstruction.