Ukravtodor to borrow funds from World Bank for reconstruction of Kyiv-Kharkiv highway between 2014-2016
The adviser of the head of the State Agency of Automobile Roads (Ukravtodor), Yevhen Prusenko, says that funds for the reconstruction of the Poltava-Kharkiv section of the Kyiv-Kharkiv-Dovzhansky highway will be borrowed from the World Bank no earlier than in 2014.
"We've started preparing the feasibility study for investment in this project. But the realistic period for borrowing is not earlier than 2014 and not later than 2016," the said.
World Bank Country Director for Ukraine, Belarus and Moldova Qimiao Fan and Ukravtodor Chairman Volodymyr Demishkan in October 2012 signed a loan agreement to finance the Second Road and Safety Improvement Project (RSIP2) in Ukraine.
According to the press service of the World Bank, the World Bank’s Board of Executive Directors approved a $450 million loan for the RSIP2 on September 20, 2012.
The project will improve the condition and quality of sections of the Kyiv-Kharkiv road between the cities of Lubny and Poltava and enhance road safety along several road corridors in Ukraine. It will also contribute to improved road safety on selected road corridors and decrease the number of road accidents. The project will bring significant positive social and economic benefits to local communities by creating more economic activities and jobs.
The Second Road and Safety Improvement Project will be implemented by Ukravtodor.
