Ukraine and World Bank have Successfully Completed the Second USD 450 million Project on Roads Improvement

Within the framework of the agreement with the International Bank for Reconstruction and Development (IBRD), the Second Road Improvement and Safety Project has been implemented in Ukraine. At the end of December 2021, the IBRD made the last disbursement within the framework of the mentioned project. The total amount of the credit from the IBRD is USD 450 million. This project started back in 2012 and has played an important role in the development of Ukraine's highway road network. It has become one of the largest projects in the IBRD credit portfolio. This was announced by Deputy Minister of Finance Alexander Kava.

Thanks to the credit from the World Bank 108 km of M-03 highway on the route Kyiv-Poltava-Kharkiv was reconstructed. In particular, there have been reconstructed and strengthened the existing roads, expanded some sections from two to four lanes, and built three bypass roads around the settlements.

In addition, the highway is brought up to the category of high-speed highway on the section Lubny-Poltava. Three new bypasses of settlements are built in this direction, including the South-West bypass of Poltava. Now instead of the old road, there are two separate carriageways, two lanes in each direction, with a demarcation lane between them, which meet modern safety standards.

"The successful implementation of the Second Highway Improvement Project made it possible to make another section of the modern highway road network in Ukraine. Thanks to this project, travel from Kyiv to Poltava, Kharkiv, Dnipro, Zaporizhzhya, Donetsk, and Luhansk regions will become safer, more comfortable, and faster. We plan to continue working with the World Bank in this direction, creating even more high-quality highway roads that open up new opportunities for the regions. The faster movement in the country, the more active the economic integration of the regions," Alexander Kava said.