KIEV, May 6 - The European Bank for Reconstruction and Development will issue a loan to Chernivtsi to implement an investment project to improve the urban public transport infrastructure through purchase of 40 new trolleybuses, related equipment and modernization of traction substations and contact networks.

According to Chernivtsi City Council, an agreement of intent on preparing loan financing for the project was signed on May 5 by Chernivtsi Mayor Oleksiy Kaspruk, Director of Chernivtsi Trolleybus Department Ivan Ivanichek and EBRD Senior Banker Denis Gaiovy.