KYIV, Sept 28 – The European Investment Bank (EIB) will provide a EUR 160 million loan to Kharkiv to extend the Oleksiyivska subway line.

The bank said on its website that the decision was approved by the Board on September 19.

"The project will improve public transport in Kharkiv by extending the metro network, and making it more attractive for commuters. Consequently, it is expected that the investment will result in a modal shift away from private car use, thus reducing the negative impact of car transport on the environment," the bank said.