Ukraine and the European Union will jointly finance the “Go highway” project, which would create a new transport corridor on the Silk Road. Ukraine’s Minister of Infrastructure Volodymyr Omelyan said this on Tuesday, UNIAN reports.
“The European Union is ready to partially fund the “Go highway” project that will connect the Baltic Sea with the Black Sea,” Omelyan told reporters after his meeting with Henrik Hololei, the European Commission’s directore-general for mobility and transport, Xinhua reports.
Last year, Ukraine launched a project aiming to connect four Black Sea ports in the south of the country with two Baltic Sea ports in the north of Poland. The new transport corridor is expected to stretch for 1,746 km, costing around $2.4 billion to build. It is scheduled to be completed within three years.
The Minister of Infrastructure of Ukraine earlier claimed that the project is supposed to cut the cargo delivery costs, which is likely to facilitate an increase in trade between Ukraine and Europe. According to the institution, the project is also expected to facilitate trade between China and the European Union, hence, strengthening Ukraine’s transit positions on the China-proposed modern Silk Road.
