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EIB to finance Ukrainian road construction

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European Investment Bank is providing €200 million ($273 million) loan for Ukraine to modernize road M-06 connecting Csap to Kiev.

This is the first European Investment Bank funding granted to an ex-member of the Soviet Union. The road in question is part of Paneuropean route number 3, joining Eastern Europe to the Transeuropean Network (TEN). Expanding TEN is an EU priority. The Ukrainian project is co-financed by EBRD. The constructor is Ukravtodor, the Ukrainian state’s road management company. EIB has provided nearly €87 million ($118.7 million) to expand TEN and other main road systems. (Napi Gazdaság)

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