Ukrainian road repair needs 500 billion hryvnia, Prime Minister Mykola Azarov said, opening a meeting of the government, ForUm correspondent reports.

“For a large-scale modernization of motor roads, at least 500 billion UAH are necessary. This is more than Ukraine's annual budget. Therefore, we should create a new financing model, which will enable investing at least 50 billion UAH annually in construction and repairs of highways over 10 years,” Azarov said.

The time has come to attract the resource of public-private partnerships or concessions.

The Prime Minister instructed finance minister Yuri Kolobov, economic development and trade minister Ihor Prasolov and transport minister Volodymyr Kozak to start developing practical mechanisms to use the public-private partnerships and concessions in the construction of highways.

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