Infrastructure Ministry to attract $560 mln from World Bank for road repairs in 2015
The Cabinet of Ministers on September 2, 2015 approved a draft act on raising $560 million from the World Bank to finance road repairs.
The press service of the Ministry of Infrastructure said that, according to the project, it was originally intended to repair road M-03 on the section from Poltava to Kharkiv. However, due to the poor state of roads across the country, the ministry proposed the revision of the project and adding the most degraded road sections to the design work, namely the transport corridor from ports to the border with the European Union.
After joint negotiations the World Bank and Ukraine agreed on the design work to improve the transport and operating conditions on the following roads: N-02 Lviv-Ternopil, M-12 Stry-Ternopil-Kirovohrad-Znamyanka from Ternopil to Kirovohrad, M-13 Kirovohrad-Platonove from road M-12 to the southern bypass of Kirovohrad, N-14 Oleksandrivka-Kirovohrad-Mykolaiv from Kirovohrad to Mykolaiv, and M-14 Odesa-Melitopol-Novoazovsk from Mykolaiv to Kherson.
In parallel, a search for the means to overhaul these sections of roads is being conducted. Among the options under consideration is the Road Fund which is to be set up and funded by the national budget or funds issued by international financial organizations.
