Ukravtodor planning to borrow from Sberbank
2010-07-21
Ukravtodor, the Ukrainian state road company, is planning to take out a RUB 2bn (€51.5m) loan from Russia’s
Sberbank to fund
road construction and repair work in 2010. This will include the reconstruction of the Kiev-Kharkov-Dovzhansky motorway, part of the country’s Euro-2012 preparations.
The company has been in financial difficulties and has received $0.4bn (€317m) from the Ukrainian government to service its loans. In 2009 Ukravtodor took out a 30-year, $400m (€317m) loan from the World Bank to improve the safety of Ukrainian motorways and to build a 130 km motorway between Kiev and Lubny.