November 22, 2019 / 6:28 PM / 22 days ago

EBRD and EIB to lend Ukraine 900 mln euros for roads

KIEV, Nov 22 (Reuters) - The European Investment Bank and the European Bank for Reconstruction and Development will provide a 900 million euro ($992 million) loan to Ukraine for road reconstruction, the Ukrainian government said on Friday.

Prime Minister Oleksiy Honcharuk had signed in London documents with both banks, which would lend 450 million euros each, the government said in a statement.

The government plans to use the funds for building and rehabilitation of 340 km of roads, mainly the Kiev-Odessa route which connects the capital to Ukraine’s Black Sea ports.

“In three years, Kiev-Odessa route will become the first highway of the European-level,” the statement said. ($1 = 0.9069 euros) (Reporting by Natalia Zinets)

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