The State Road Agency (Ukravtodor) is considering the possibility of raising additional funds for financing highway repairs this year.
Ukravtodor’s First Deputy Chairman Andrii Ivko announced this, the CFTS portal reports, citing the Interfax Ukraine news agency.
"We are considering all possible options, particularly credits and grants. We are negotiating with our European partners – and not only with them – on raising funds from various sources. It is too early to talk about specific decisions and projects, but I think that within a month we will be able to objectively announce the final stage of the negotiations and the amounts that we will be able to raise by the end of this year," Ivko said.
"We have force majeure: the biggest war on the European continent is going on. Therefore, they are meeting us halfway. restructuring will allow us to endure what is happening today more easily. I mean from a financial point of view," he added.
As reported earlier, Ukravtodor placed seven-year Eurobonds for USD 700 million at the yield rate of 6.25% in June 2021.
Ukravtodor officially proposed that the holders of its Eurobonds defer payments on them for two years in June 2022. The holders of the road agency’s Eurobonds accepted the proposal to defer payments in August.
