Ukrainian government gave UAH 4.4 bln from IFIs for road repair

Ukrainian government gave UAH 4.4 bln from IFIs for road repairThe government has distributed UAH 4.4 billion from international financial institutions (IFIs) for road repair and reconstruction in Ukraine.

The cabinet resolution was approved on Thursday.

Infrastructure Minister Andriy Pyvovarsky said that next week a draft similar resolution to distribute funds from the national budget will be finished.

"Agreeing some resolutions would allow us to bring a lot of machinery to roads and start spending a historically large sum that would be provided for roads of all levels this year. Preliminarily we expect that it would be around UAH 20 billion that will be spend on roads of general and local use. This is several times more than it was last year," Pyvovarsky said.

Deputy Head of the State Agency of Automobile Roads of Ukraine (Ukravtodor) Mykola Berezovsky said that along with the funds from the national budget and IFIs, several more sources of financing will be used.

Read also: World Bank finances $200 mln to build road in Poltava region

"The roads will be overhauled and built using several sources. These are local budget that last year showed a possibility of working efficiently last year, these are special funds that receive funds from the customs area. The Regional Development Fund has also joined," he said.

He added that Ukravtodor is ready to start repair and reconstruction of roads at once after receiving the financing.
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