UDS can get financing from IFC for fleet modernization

The International Finance Corporation (IFC) has agreed to carry out a comprehensive inspection of the Ukrainian Danube Shipping Company.

This was stated by IFC director for infrastructure and energy in European countries Sheryl Hanway, UDS reports.

A comprehensive review is required to obtain long-term funding for the fleet renewal program.

The program will make it possible to modernize the entire UDS self-propelled fleet in operation in a few years.

“Ukraine will receive the most modern and most ecological fleet on the Danube.

In total, the program is estimated at 86 million euros. The UDS is already financing it with its own funds,” the message reads.

At the beginning of August 2024, the first of five modernized ships with new engines and a control system will leave Linz, Austria, for Ukraine.

The UDS also plans to get access to a credit line already this year.

It will be recalled that on June 11, an agreement was signed in Berlin between the UDS and the International Finance Corporation (IFC) regarding the continuation of cooperation.