Kyiv’s access roads to be repaired on credit

Ukraine may receive a €450-million loan from the European Bank for Reconstruction and Development (EBRD) to improve Kyiv access motor roads and finish the reconstruction of the M-06 Kyiv-Chop highway. The bank says its board of directors is planning to discuss a project report to this effect on September 28, 2010. The project report estimates the total worth of work at 1.15 billion euros. A similar €450-million loan will be made available by the European Investment Bank. Under the project report, the state of Ukraine is the borrower and the State Service of Motor Roads (Ukravtodor) is the recipient of funds. It is intended to issue the loan in two installments – one for reconstructing the M-06 and M-07 highways (Kyiv-Kovel-Yahodyn) and the other for the M-01 (Kyiv-Chernihiv-Novi Yary­lo­vychi), M-05 (Kyiv-Odesa), N-01 (Kyiv-Znamianka), and R-02 (Kyiv-Ivankiv-Ovruch), as well as for widening 24 km of the Zhytomyr detour on the M-06 from one to two lanes. The EBRD Kyiv office has specified that if the project is carried out successfully, first installment funds may come to this country as early as this year.