The State Property Fund of Ukraine (SPF) and the World Bank are working on improving Ukrainian concession legislation to make it clearer to foreign investors, Ukrainian Minister of Infrastructure Andriy Pyvovarsky has said.

The minister cited a tender for the construction of the Lviv-Krakovets road, saying that more than ten companies expressed their interest in the implementation of the project, but only two companies were able to participate due to current laws.

"International financial organizations that provided long-term cheap financing immediately warned that under the current legislation they would not fund [the project]," the minister added.

As a result, the tender will be re-launched after appropriate changes are made to legislation, most likely next year.

Earlier, Deputy Minister of Infrastructure Yuriy Vaskov suggested that the State Property Fund should deal with the concession of at least the ports.