World Bank to loan Ukravtodor USD 400 mln
20 March 2009
Vadim Gurzhos, head of Ukravtodor, Ukraine’s state roads service, said yesterday that the World Bank is ready to loan his company USD 400 mln over 17 years (with an option to prolong the loan to 30 years); the first five years the loan will have a floating rate of up to 1.5% p.a. Ukravtodor plans to use USD 300 mln to repair and rebuild the Kyiv-Kharkiv highway and USD 100 mln to repair national road routes that are in critical need of work.
