EBRD endorsed the credit for “Ukravtodor”

by Olha Povaliaieva
Wednesday, December 22, 2021
EBRD endorsed the credit for “Ukravtodor”

The assets are to be spent on the Kyiv-Odesa roadway repairment

An amount of €450 million was given to the government body of highways as credit for the repair and improvement of Ukrainian roads.

€190 million of that money will be spent on the technical condition of the M-05 Kyiv–Odesa road axes.

The remaining amount will be used to repair roads in Kropyvnytskyi (center of the country), Mykolaiv, Odesa regions (southern part of Ukraine).

In Ukravtodor, it is noted that new funds were allocated to them, taking into account the steps taken by the company in the direction of improvement of management efficiency. The progress made by the Ukravtodor in revising the agency’s management systems to advance the necessary reforms is meant. In particular, the external consultants created an all-embracing fighting corruption series of steps, accepted by top-level management that consists of the administration, cabinet of the country’s head, EBRD and Ukravtodor agents.

The plan is already being executed. It provides an overall method to promoting excellence and interdependence, improving business leadership, and built-in mechanisms, strategies, and methods for corruption prevention. It should promote a virtuous way of living throughout the organization as well.

Let's remind about already issued loans from EBRD.

This bank is a major commercial credit company in Ukraine. EBRD has already given about €16 billion in 506 assignments nationwide.

The institution focuses on helping stabilize the economy and consolidate the results of reconstructions, improving power productiveness and energetic safety, and supporting projects in agriculture, industrial and the small and medium-sized business sector.

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