World Bank approved $560 mln loan for road reconditioning in Ukraine

Source : 112 Ukraine

Earlier, Minister of Infrastructure of Ukraine Andriy Pyvovarsky told in case of approval of the loan agreement, repair works should start in the next year's construction season
14:47, 4 November 2015

The World Bank approved $ 560 million for repair of Ukrainian roads, the Minister of Infrastructure of Ukraine Andriy Pyvovarsky stated via Facebook.

"Hurray! The World Bank agreed a third project to restore the roads of Ukraine for $ 560 million. M-03 (Kyiv - Kharkiv highway) is to get 1st category quality on the entire length," he wrote.

Related: World Bank to unveil $560 mln for new roads in Ukraine

Recalling that in September, the government approved the participation of World Bank in financing of the development of the road sector totaling $ 560 million. The Ministry of Infrastructure informed that in case of approval of loan agreement by the Board of Directors of the World Bank, its signing will take place in October, and the implementation of the project will begin with the start of construction season in the next year.

Earlier, Minister of Infrastructure Andriy Pyvovarsky claimed that apart  from the World Bank, the Ministry of Infrastructure is in talks with other financial institutions on loans for the purpose of road repair.

Related: World Bank and Ukrainian Ministry of Regional Development completed a joint project "Urban Infrastructure".

Pyvovarsky underlined that considering the fact that the default in Ukraine has not happen, the European Bank for Reconstruction and Development and the European Investment Bank are ready to continue the dialogue with us about new roads.

Related: German experts to assist Ukraine's reforms of road infrastructure

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