The State Agency for Highways of Ukraine (Ukravtodor) is considering the possibility of attracting additional funding for road repairs this year.
“We are considering all possible options, in particular, both credit and grant funds. We are negotiating with our European partners and not only with them about raising funds from various sources. It is too early to talk about any specific decisions and projects, but I think that in a month we will be able to substantively announce the final stage of negotiations and the amounts that we can raise before the end of this year,” Andriy Ivko, first deputy head of Ukravtodor, said in an interview with Interfax-Ukraine.
He noted that even after the agreed deferment of payments on Eurobonds, international partners are ready to meet halfway in matters of attracting additional financing by Ukravtodor.
“Even in civilian life, these are common practices in both the public and private sectors. We have force majeure, the biggest war on the European continent continues, so they meet us halfway. And restructuring will make it easier for us to endure what is happening today. I have from a financial point of view,” he said.
As reported, since August 11, 2022, Ukravtodor, which placed debut Eurobonds worth $700 million maturing in 2028 at a rate of 6.25% in June last year under state guarantees, received the consent of the holders of these securities to defer interest payments on them and transfer their maturity for two years.
