IBRD Loan: $400 Millon
Terms: Maturity = 30 years; Grace = 5 years
Project Description: The Roads and Safety Improvement Project for Ukraine aims to improve the condition and quality of sections of the M-03 road and increase traffic safety along Ukraine’s main road network. It will be implemented by the State Road Administration of Ukraine, Ukravtodor. The project forms part of the World Bank’s response to the social and economic crisis affecting Ukraine. It will lay the foundations for future growth and competitiveness, while at the same time creating jobs and fiscal stimulus to mitigate the effects of the economic downturn. Ukraine is an important transit country given its location between Russia and other members of the Commonwealth of Independent States, and the European market. The project will help integrate Ukraine’s transport network with that of the EU, promote Ukraine’s transit potential, and maximize the use of Ukraine’s existing transport assets. It will also contribute to making travel by road safer, thus helping to reduce the high rate of accident related deaths and injuries in Ukraine (7,690 died in road accidents in 2008).