Part of the funds that the Naftogaz of Ukraine national energy company received from the Gazprom gas company (Russia) in accordance with a decision by the Arbitration Institute of the Stockholm Chamber of Commerce (Sweden) will be one of the sources of funds for financing the road industry.
President Volodymyr Zelenskyi announced this during a strategic meeting on repair and construction of Ukrainian roads on Tuesday.
"We want to rehabilitate 4,000 kilometers of roads of national importance in 2020. Amounts of funds that are unprecedented in the history of Ukraine – more than UAH 85 billion – have been allocated for this. UAH 31 billion from the Road Fund, UAH 19 billion under state guarantee... Part of the money that we receive from Naftogaz following its Stockholm arbitration victory against Gazprom…" Zelenskyi said.
The Naftogaz group’s Executive Director Yurii Vitrenko wrote on his Facebook page that Naftogaz of Ukraine received more than USD 2.9 billion from Gazprom in implementation of a ruling by the Arbitration Institute of the Stockholm Chamber of Commerce in late December 2019.
The head of the State Automobile Road Service (Ukravtodor), Oleksandr Kubrakov, said in a recent interview with the CFTS portal that the two sources of funds for financing the road sector were the Road Fund and state-guaranteed credits.