Kiev, Ukriane (PortSEurope) October 14, 2020 – The European Bank for Reconstruction and Development (EBRD), an international financial institution, is to provide a sovereign loan of up to €450 million to Ukraine to be onlent to Ukravtodor, the State Road Agency. The finance will be provided in three tranches: Tranche 1 of up to €100 million to finance the rehabilitation of the M-05 Kyiv-Odesa road section in Cherkasy regionTranche
2 of up to €160 million to finance the construction of a northern section of the bypass around the city of LvivTranche 3 of up to €190 million to finance the rehabilitation of the M-05 Kyiv-Odesa road sections in Kirovohrad, Mykolaiv and Odesa regions The EBRD said that tranches 1 and 3 will support the rehabilitation of strategically important sections of the M05 Kyiv-Odesa road, which is part of Corridor IX of the EU Trans-European Transport Network (TEN-T) and one of the busiest roads in the country connecting the capital to the biggest city in the south and the Black Sea ports, which are a vital logistical hubs for cargo transport. Tranche 2 will support the completion of the ring-road around the city of Lviv, which is located at the intersection of TEN-T Corridors III and V, and will enable through traffic to bypass the city more effectively improving travel times and reducing congestion in the city. The project will also support legal and regulatory reform objectives aimed at developing a competitive and transparent road construction and maintenance sector. Copyright (C) PortSEurope. All Rights Reserved. 2020.
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