The Ukrainian Cabinet of Ministers has authorized acceptance of a loan from the European Investment Bank (EIB) for financing development of Ukraine’s infrastructure facilities that are part of the Trans-European Transport Network (TEN-T).
According to the Interfax Ukraine news agency, Member of Parliament Oleksii Honcharenko announced this after a closed government meeting on Wednesday, November 6.
"1. It was considered expedient to obtain a loan of EUR 450 million from the European Investment Bank for implementation of the ‘Development of the Trans-European Transport Network’ project. 2. The Ministry of Finance is to conclude an agreement on transfer of the loan funds to the State Road Agency of Ukraine," a copy of the relevant draft Cabinet of Ministers resolution published by Honcharenko states.
The Trans-European Transport Network (TEN-T) is a Europe-wide network of roads, railway lines, inland waterways, maritime shipping routes, ports, airports, and railroad terminals. The European Commission determined the amount of investment needed to implement these projects in January 2019. The projects will require an estimated investment of almost EUR 13 billion and foresee a total of 4,800 kilometers of road and rail, 6 ports, and 11 logistics centers. Those projects will make possible the construction and rehabilitation of new and existing roads, rail, ports, airports as well as logistical centers and border crossing points.
In January this year, the European Commission and the World Bank jointly developed an investment action plan for development of infrastructure in Eastern Partnership countries (Ukraine, Armenia, Azerbaijan, Belarus, Georgia, and Moldova). Thirty-nine Ukrainian infrastructure projects have been included in the Indicative TEN-T Investment Action Plan and almost EUR 4.5 billion has been allocated for financing these projects.
