The Cabinet of Ministers of Ukraine has approved the restructuring of bonds of the State Agency for automobile expensive of Ukraine (Ukravtodor). According to the head of the Department Slawomir Nowak, the decision will allow the Agency to obtain additional UAH 2 billion in the state banks.

“This will allow us to state-run banks additional UAH 2 billion for maintenance and construction of roads this year,” Novak said at a government meeting. According to him, the funds will be directed on repair of roads.

Novak said that Ukravtodor ready to use 1 billion by rolling over bonds for patching. “We have already discussed this possibility with the Prime Minister, I have received the consent”, – assured the head of the Agency.

We will remind, today Prime Minister Vladimir Groysman said that the Cabinet of Ministers this year will allocate 30 billion for road repairs.

Recently Novak said that today the state budget is 14 billion on roads, of which 7 billion will be used to repay debt.

Ukravtodor also revealed plans of road repairs in 2017. The Ministry noted that the currently available funding allows to repair 727 km of roads, and in the case of allocation of additional funds – 2 thousand km.

As reported, the Cabinet of Ministers extended to the entire territory of Ukraine an experiment on financial provision of development of roads. In 2016, five regions of Ukraine received more than 2 billion UAH for road repairs in the experiment to redirect surplus customs revenue. Total income from customs duties on the territory of the regions of Ukraine, which operated the experiment amounted to UAH 2.25 billion.

According to the Ministry of Infrastructure in 2016 in Ukraine was repaired in just 1% of the roads.

Ukravtodor can receive an additional UAH 2 bn on roads 22.03.2017

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