Ukraine received $ 560 million from the World Bank for the development of roads.
The World Bank will finance repairs to upgrade about 100 km of the road M-03 Kyiv-Kharkiv.
The agreement on granting Ukraine a loan from the International Bank for Reconstruction and Development, World Bank Group (WB) in the amount of $ 560 million to finance the project of development of the road sector was signed in November.
WB Board of Executive Directors approved the allocation of this loan at the beginning of November this year.
According to the project, will be funded repairs to upgrade about 100 km of the road M-03 Kyiv-Kharkiv. Modernization will occur in the standard way the first category: it is a highway with four lanes of traffic and high levels of security, including an emergency barrier in the center and, if necessary, barriers on both sides of the road.
The project is scheduled for completion in 2021, as a result of the implementation of travel time between Poltava and Kharkiv will be reduced from 140 minutes to 96 minutes with the expected decrease in the number of accidents from 139 to 85 cases per year.
The loan will also help to provide funding for the maintenance and improvement of road safety by approximately 840 km of the main national transport corridors of the country.
In case of successful realization of the project it is planned to allocate additional $ 240 million.
