The European Investment Bank (EIB) is lending EUR 200 million to Ukraine for the rehabilitation of the M-06 road, which is the major route between Ukraine and the European Union, linking the Ukrainian capital to the neighbouring EU Member States of Hungary, Slovakia and Poland. This is the first-ever operation of the EIB in Ukraine.
The loan was signed earlier today (July 30) by Ukraine’s Deputy Prime Minister AZAROV and EIB Vice-President KOLLATZ-AHNEN.
The promoter of the project is Ukravtodor, the State Road Service of Ukraine. The project will contribute to eliminating bottlenecks on the M-06 road and improve the quality and security of the existing infrastructure. The M-06 road is part of the Pan-European Corridor III connecting Eastern European countries with the EU’s TEN (Trans-European Network) whose completion is a priority objective of the European Union.
Commenting on this first EIB operation in Ukraine, Vice-President Kollatz-Ahnen stressed that it was “an excellent example of EIB financing with a direct impact in terms of closer connectivity, harmonisation and integration between the enlarged EU and its Eastern Neighbours, aimed at building an area of prosperity, stability and security, which is the ultimate goal of the European Neighbourhood Policy”.
This operation is also an example of efficient cooperation between the EIB and the EBRD (European Bank for Reconstruction and Development), which is co-financing this project with a loan of an equal amount. -Europa.eu