The Vice Prime Minister for Reconstruction - Minister of Community and Territory Development of Ukraine, Oleksii Kuleba, held discussions in Seoul with representatives from Eximbank Korea and the Economic Development and Cooperation Fund of the Republic of Korea regarding the modernization of the Ukrainian railway.

This was reported by the press service of the Ministry of Development.

The meeting took place during a working visit of the Ukrainian delegation to Korea, where they discussed financing for the purchase of 20 high-speed electric trains produced in Korea. This will significantly increase passenger transport capacity and modernize the fleet of 'Ukrzaliznytsia'.

Kuleba also met with passenger rolling stock manufacturers, presenting a vision for the development of the Ukrainian railway and the need for fleet modernization.

The ministry noted that Korea has already opened a framework for preferential financing for Ukraine amounting to $2.1 billion for the years 2024-2029. This is one of the largest financial support instruments for Ukraine from partners in Asia. The first tranche of $100 million has already helped maintain financial stability and timely social payments amid the war.

We remind you that the Cabinet of Ministers approved a draft letter to the Government of the Republic of Korea regarding the provision of a loan for the implementation of the public investment project 'Purchase of 20 high-speed electric trains produced in Korea' during a meeting on September 10.