Rada approved the EIB loan of 75 million euros to increase security on the roads

Рада утвердила кредит ЕИБ на 75 миллионов евро на повышение безопасности на дорогах

The Verkhovna Rada has ratified the Financial agreement (Project “improving the safety of roads in the cities of Ukraine”) between Ukraine and the European investment Bank (EIB).

For the adoption of the presidential bill №0014 voted 334 deputies.

According to the explanatory Memorandum, the financial agreement with EIB provides funding for the installation of pedestrian fencing, construction and reconstruction of overground and underground pedestrian crossings, the installation of cameras commit traffic violations, major repairs of tram ways, the expansion of the roadway, stroitelstve and reconstruction of traffic signals, building bike paths.

It is expected that these measures will help to reduce the number of accidents and the severity of their consequences, to increase the share of travels by Bicycle, foot or public transport, to reduce time of stay of passengers on public transport, to reduce the maintenance costs of motor vehicle owners and emissions.

The total estimated cost of the project according to estimates of experts of the European investment Bank is 177 million euros (without VAT) euros or 207,95 million euros with national Bank.

Of the total EIB to provide € 75 million EBRD – 79,75 million euros, the city budgets to Finance 22,25 million euros, and will pay 30,95 million euros of VAT.

As reported, the Financial agreement between Ukraine and the European investment Bank (EIB) in the framework of the project “improving the safety of roads in the cities of Ukraine” was signed in July 2018.

In the fall of 2019 at the EIB stated that it also considered the possibility of launching the second part of the Project, with funding of 50 million euros with the aim of engaging new cities of Ukraine. However, the implementation of the second part of the project is possible only after the use of cities-participants of the first part of the Project (177 million euros with the EBRD).

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