The World Bank has confirmed its intentions to invest $800 million in the third construction project in Ukraine – a road section from Poltava to Kharkiv M-03 highway Kyiv-Kharkiv-Dovzhansky.
The press service of Ukraine’s Ministry of Infrastructure reported the news after meeting of first deputy minister Volodymyr Shulmeister with global practice manager and the World Bank Transport and ICT, Europe and Central Asia (Colombia) Juan Gaviria.
The press service said that negotiations on the project lasted about six months. Reconstruction of Poltava- Kharkiv section will be one of the largest investment project by the World Bank in Ukraine. Once the project is complete, the vehicle corridor from Kyiv to Kharkiv which is of strategic importance for Ukraine will have been completely renovated. The project will consist of two parts. The first one is improvement of road infrastructure of a 130 kilometers long section. The second part is a proper organization of activities aimed at improving safety, operational maintenance of road conditions, construction of weight stations.
As a background reminder, the World Bank gave loans for two projects to improve roads and road safety during reconstruction of M-03 Kyiv-Kharkiv-Dovzhansky highway in Ukraine. The first project deals with repairs of Boryspil – Lubny highway section that has been completed. Implementation of the second project, the highway section Lubny – Poltava, is still in progress.
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