Ukraine ratifies EUR 450M road development agreement with EIB

Ukraine ratifies EUR 450M road development agreement with EIB

The Verkhovna Rada, Ukraine's parliament, has adopted the law "On the Ratification of the Financial Agreement 'European Roads Ukraine III (Trans-European Transport Network Development Project) between Ukraine and the European Investment Bank'."

A total of 288 MPs voted for a respective decision at an extraordinary parliament meeting on Tuesday, August 25.

The adoption of the law creates the legal framework for the implementation of the financial agreement and the further implementation of the Trans-European Transport Network Development Project. The ratification of the agreement provides for investment in the development of road facilities, which will increase road safety, efficiency and comfort of passenger and cargo transportation.

The total amount of EIB loans for the Trans-European Transport Network Development Project is EUR 450 million (excluding VAT).


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