First Deputy Minister of Infrastructure Volodymyr Shulmeister on 2 October signed a protocol on provision of a loan of USD 560 million from the World Bank (the first part of the third loan tranche) for reconstruction of the Poltava-Kharkov highway, Shulmeister said this on his Facebook page.

According to him, the protocol for the second tranche of the USD 240 million will be signed later.

"We are now awaiting ratification by the World Bank, with confidence that the new, still tireless team of Ukravtodor can use the money competently. This third tranche will have other components, including design of the Lvov-Kirovograd-Kherson highway," the minister said.

As reported earlier, the World Bank will finance construction of a concrete highway that will connect the three regional centers - Kirovograd, Kherson, and Nikolayev. According to preliminary estimates, the cost of the road ranges from USD 80 million to USD 100 million.