The European Bank for Reconstruction and Development will provide Ukraine with a loan of 450 million euros to repair six entrances to the city of Kyiv.

As UKRINFORM reported, the President signed into law the bill on ratification of the credit agreement (improvement of transport and operational status of roads on the approaches to the city of Kyiv (Pan-European corridors) between Ukraine and the European Bank for Reconstruction and Development.

As reported, the Verkhovna Rada adopted the bill on June 15. While introducing the document in parliament, the head of the State Roads Agency, Volodymyr Demishkan, explained that the loan will be taken for a total of 450 million euros, with an interest rate in euro Libor+1, maturity of 15 years and a grace period of four years. He noted that the total payment on the loan will be lower than inflation.

Demishkan also said that it is planned to improve 400 km of roads on six entrances to Kyiv, from Zhytomyr, Odesa, Kovel, Chernihiv, Obukhiv and Ovruch. The work will begin in July, and the contractors will be determined by public tenders under control of the EBRD.

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