EBRD to Give Ukraine EUR 100 Million to Repair Major Road - 7 March, 2003

The European Bank for Reconstruction and Development (EBRD) is considering allocating Kiev around EUR 100 million for the repair of one of Ukraine's major highways - the Kiev-Chop road. This was announced yesterday at a press conference in Kiev by Olivier Descamps, the head of the EBRD's Department for Ukraine and South-East Europe. According to Descamps, the issue has already been discussed at a meeting between representatives of the bank and Ukrainian Transport Minister Georgy Kirpa.

The EBRD has recently significantly increased the level of its investments in the Ukrainian economy. In particular, a programme to repair the Ukrainian part of the international Berlin-Dresden-Kiev highway has been carried out. The bank is financing around 60 different projects in Ukraine.