JSC Ukreximbank and the State Agency of Automobile Roads of Ukraine (Ukravtodor) with the participation of President of Ukraine Volodymyr Zelensky have signed an agreement to provide the first tranche for updating roads in Ukraine in the amount of UAH 5.782 billion from the amount of financing, which will total UAH 19.3 billion.
“Despite the quarantine measures in our country, the most important thing is that the state works and, together with the banking sector and construction companies, builds kilometers of roads and “sews” our country! As I said, roads, bridges are a priority,” Zelensky said after the signing of the agreement.
He emphasized that the Big Construction program is the image of Ukraine as a country with modern and high-quality roads on which you can travel. The president also noted that the program will contribute to the creation of new jobs.
The president’s press service notes that the attraction of funds from Ukreximbank under state guarantees by Ukravtodor became possible due to the adoption of laws on amendments to the budget that Zelensky signed on February 4, 2020, and thanks to the decision of the National Bank to lower the refinancing rate. The loan interest rate will be 10.5% per annum.
“We, as a state bank, support the Big Construction project. With the signing of the agreement, Ukravtodor will receive the first tranche in the amount of UAH 5.782 billion at a rate of 10.5% per annum, which is 2% lower than the Cabinet of Ministers foresaw,” chairman of the board of Ukreximbank Yevhen Metsger said.
He said that Ukreximbank is ready to become a financial partner of the Big Construction project and lend its shoulder to all companies, in particular contractors, that will be involved in the construction of the facilities under this program.