An American bank provides a $156M loan for new UZ locomotives.

The Export-Import Bank of the US approved the decision to issue a loan to purchase 40 locomotives manufactured by the American company Wabtec to reinforce the Ukrainian Railways (UZ) fleet. The financing will amount to $156M for a period of 15 years.

“This agreement is a symbol of the fact that recovery processes in Ukraine are starting, despite the conflict, and it will benefit both countries because Ukraine will receive critically needed equipment. At the same time, this project provides an impetus for our private sector to be increasingly involved in recovery in Ukraine,” said Reta Jo Lewis, the top manager of the American bank.

UZ will be the first Ukrainian state-owned company to receive financing from the US EXIM Bank, noted the state railway company chairman, Yevhen Lyashchenko.

Previously, Ukrainian Railways had planned to purchase 40 locomotives from General Electric, but those plans fell through.