The Verkhovna Rada ratified the framework agreement between the governments of Ukraine and the Republic of Korea on loans from the Economic Development Cooperation Fund for 2024-2029, which opens up the possibility for Ukrzaliznytsia to purchase another 20 Intercity+ class electric trains.

"This decision opens the way to the final part of the approvals for financing projects that are critical for the Ukrainian economy, including the program to expand the rolling stock of Ukrzaliznytsia - the purchase of 20 Intercity+ electric trains. The program has already received a positive assessment from experts attracted by the Korean fund," Ukrzaliznytsia reported on its Facebook page on Thursday.

The ratification of the agreement was supported by 336 MPs at a parliamentary meeting on Wednesday.

According to the report, the next steps will include agreeing on the details of the project and the agreement at the Cabinet of Ministers level and the final signing of the agreement.

According to preliminary agreements, the total cost of the program will be about $450 million, including servicing of the trains for five years. Delivery of trains is possible within 18-24 months after the signing of the agreement.

At the same time, it is emphasized that Korean manufacturers are initially interested in considering options for partial localization in Ukraine.

According to Ukrzaliznytsia, the terms of the loan are preferential, given the criticality of the social component of the project: the total term is up to 40 years, the loan principal will be repaid after the first 10 years.

"This is a strategic program to expand the Intercity+ train fleet, thanks to which we will be able to increase the traffic intensity on existing and open new high-speed routes. This is an additional opportunity for 6 million passengers to travel per year, which will cover today's need for daytime high-speed traffic," chairman of the board Yevhen Liaschenko said.