Ukraine and the world Bank signed a loan agreement of $560 million for the development of roads

Moscow. November 19. Ukraine on Thursday signed with the International Bank for reconstruction and development (part of world Bank group) loan agreement in the amount of $560 million for financing development project road sector signed on Thursday.

The agreement was signed by WB Director for Ukraine, Belarus and Moldova Qimiao Fan and first Deputy Minister of infrastructure of Ukraine Volodymyr Fact.

The Board of Executive Directors of the WB approved the decision to allocate the loan at the beginning of November this year.

According to the project, will be funded renovations to modernize approximately 100 km highway M-03 Kyiv-Kharkiv on the section Poltava-Rolls. Modernization will occur on standard road of the first category: this is a motorway with four lanes and a high level of safety, including crash barrier in the center and, if necessary, the barriers along the road side. The project is scheduled for completion in 2021.

Fact noted that in case of successful realization of the project it is planned to allocate an additional $240 million.