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World Bank Board approves $450 million loan for Second Roads and Safety Improvement Project in Ukraine

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Sept. 21, 2012, 12:11 p.m. | Ukraine — by Interfax-Ukraine

This 02 August, 2004 photo shows the logo on the World Bank Building in Washington, DC.
© AFP

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The Board of Directors of the World Bank has approved a loan of $450 million to realize the Second Roads and Safety Improvement Project (RSIP2 in Ukraine, the bank's press service has reported.

"The project will improve condition and quality of sections of the Kyiv-Kharkiv road between the cities of Lubny and Poltava and enhance road safety for the whole network of Ukraine’s roads," reads the report.

The Second Roads and Safety Improvement Project will be implemented by Ukravtodor, the State Road Agency of Ukraine.

The press release says that the RSIP2 is a follow-up project to the ongoing Roads and Safety Improvement Project (RSIP1) in the amount of US$ 400 million which was approved by the World Bank Board in 2009.

Ukraine joined the World Bank in 1992. Ukraine has received over $7.5 billion from the World Bank for 41 projects since joining the bank.

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