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07 September 2020, 12:02
Ukraine will receive EUR 500 million in loans from the EIB for the rehabilitation and quality improvement of roads
The Verkhovna Rada of Ukraine approved two bills on ratification of
financial agreements with the European Investment Bank.
Within the framework of the Financial Agreement “European Roads Ukraine III (Trans-European Transport Network Development Project)” between Ukraine and the European Investment Bank, Ukraine will receive EUR 450 million loan. The loan will consist of three tranches: the first one - EUR 100 million will be spent on the overhaul of M-05 Kyiv - Odessa highway in Cherkasy region, the second - EUR 80 million - on the construction of the northern part of Lviv city ring, and the third - EUR 270 million - on the reconstruction of the sections of M-05 Kyiv — Odessa in Kirovograd, Mykolaiv and Odessa regions. The agreement with the EIB will come in force in 2021. The loan repayment deadline is 2035.
With these funds, 314 km of the M-05 Kyiv-Odessa highway will be rehabilitated, and 23 km of the northern ring of Lviv will be constructed.
“It will be a new category 1A highway, which will have 4 lanes, 3 bridges, 7 over-bridges and 3 ring ways. The northern bypass of Lviv will reduce traffic from the city, connecting highways of international importance: M-06 Kyiv - Chop with M-09 Lviv - Rava Ruska, M-10 Lviv - Krakovets and M-11 Lviv - Sheghyni on the route from Ukraine to Poland and further to Western Europe”, - the Ministry of Infrastructure of Ukraine said.
The second agreement between Ukraine and the European Investment Bank (“Transport in Ukraine - Phase I” project), according to the Ministry of Finance of Ukraine, provides for EUR 50 million loan to Ukraine.
The project consists of:
- Construction of the north-eastern section of the ring road around the city of Ternopil.
- Multilevel interchange in Rivne region (1 turn of the bypass road in Dubno).
- Multilevel interchange in Lviv region (1 turn of the bypass road in Stryy).
- Overpass over railway in Lviv region (southern bypass road of Lviv).
- Overpass over the highway in Rivne region.
- Multi-level interchange at the section of the M-19 highway and the bypass road around city of Ternopil.
- Deployment of Intelligent Transport Systems for Transport Management and Control.
In addition to the EIB loan, the technical financial assistance within the framework of the Neighbourhood Investment Platform and the funds of the State Budget of Ukraine will be involved in the project implementation.
Within the framework of the Financial Agreement “European Roads Ukraine III (Trans-European Transport Network Development Project)” between Ukraine and the European Investment Bank, Ukraine will receive EUR 450 million loan. The loan will consist of three tranches: the first one - EUR 100 million will be spent on the overhaul of M-05 Kyiv - Odessa highway in Cherkasy region, the second - EUR 80 million - on the construction of the northern part of Lviv city ring, and the third - EUR 270 million - on the reconstruction of the sections of M-05 Kyiv — Odessa in Kirovograd, Mykolaiv and Odessa regions. The agreement with the EIB will come in force in 2021. The loan repayment deadline is 2035.
With these funds, 314 km of the M-05 Kyiv-Odessa highway will be rehabilitated, and 23 km of the northern ring of Lviv will be constructed.
“It will be a new category 1A highway, which will have 4 lanes, 3 bridges, 7 over-bridges and 3 ring ways. The northern bypass of Lviv will reduce traffic from the city, connecting highways of international importance: M-06 Kyiv - Chop with M-09 Lviv - Rava Ruska, M-10 Lviv - Krakovets and M-11 Lviv - Sheghyni on the route from Ukraine to Poland and further to Western Europe”, - the Ministry of Infrastructure of Ukraine said.
The second agreement between Ukraine and the European Investment Bank (“Transport in Ukraine - Phase I” project), according to the Ministry of Finance of Ukraine, provides for EUR 50 million loan to Ukraine.
The project consists of:
- Construction of the north-eastern section of the ring road around the city of Ternopil.
- Multilevel interchange in Rivne region (1 turn of the bypass road in Dubno).
- Multilevel interchange in Lviv region (1 turn of the bypass road in Stryy).
- Overpass over railway in Lviv region (southern bypass road of Lviv).
- Overpass over the highway in Rivne region.
- Multi-level interchange at the section of the M-19 highway and the bypass road around city of Ternopil.
- Deployment of Intelligent Transport Systems for Transport Management and Control.
In addition to the EIB loan, the technical financial assistance within the framework of the Neighbourhood Investment Platform and the funds of the State Budget of Ukraine will be involved in the project implementation.