The State Automobile Road Service (Ukravtodor) will continue reconstruction and repair of roads under projects in the financing of which international financial institutions - the World Bank, the European Investment Bank, and the European Bank for Reconstruction and Development - are involved. Ukravtodor’s head Oleksandr Malin announced this at a press conference, the CFTS reports.

According to him, work is continuing on the road segment from Boryspil to Poltava, and the next stage of the cooperation with the World Bank will be the reconstruction of the Poltava-Kharkov segment. Work is also continuing on the Kiev-Belaya Tserkov segment of the Kiev-Odessa road, which will be followed by work on the Belaya Tserkov-Zhashkov segment and the Zhashkov-Uman segment in the future.

According to Malin, it is necessary to implement deep reforms in the road sector and this will be one of the priorities of Ukravtodor. In general, he described the situation in the sector as critical.

"The situation in the industry is in a deep collapse, and there is a cumulative effect of inept economic management and financial policies in this. The loan portfolio is very complicated, and we are not yet envisaging funds for capital construction because of the sequestration of the state budget for 2014," said Malin.

As reported, the Cabinet of Ministers approved a draft project for overhaul of the 18-87th-kilometer segment of the M-05 (Kiev-Odessa) highway in the Kiev region at the estimated cost of UAH 1.93 billion on July 11, 2013. The government approved a project for reconstruction of the Lubna-Poltava segment (210-300th kilometer and 323-329th kilometer) of the Kiev-Kharkov-Dovzhansky highway in the Poltava region at the estimated cost of about UAH 3.5 billion in August last year.

The previous head of Ukravtodor, Yevhen Prusenko, said in March 2013 that World Bank loans for financing the reconstruction of the Poltava-Kharkov segment of the Kiev-Kharkov-Dovzhansky highway could obtained during the period of 2014-2016.