Business news from Ukraine

EUR 100 MLN LOAN FROM EIB TO BE USED TO REPAIR THREE ROADS IN LUHANSK REGION

A loan from the European Investment Bank (EIB) in the amount of EUR 100 million will be directed to overhaul of 183 km of roads in Luhansk region, the State Agency for Highways of Ukraine (Ukravtodor) reported.
Funds are provided for capital and current average repairs of the sections:
– route N-26 Chuhuiv – Milove: it covers more than a hundred kilometers, which are planned to be repaired for borrowed funds, because this road connects Luhansk and Kharkiv regions;
– the road P-66 checkpoint “Demyno-Oleksandrivka” – Svatove – Lysychansk – Luhansk, which starts from the border with Russia, a 35 km section has already been repaired, the road is planned to be fully restored;
– road T-13-02 checkpoint “Taniushivka” – Starobilsk – Bakhmut, where work will begin at once on two sections, with a total length of 42 km.
“In 2020, Ukravtodor completed a record amount of road work in Luhansk region: almost 200 km were restored at the beginning of December, and work continues for another 100 km. For comparison, over the past 10 years, only 130 km of roads were renewed. This is one of the most low indicators in the country,” said head of Ukravtodor Oleksandr Kubrakov.
According to him, in 2021, thanks to the funds of international partners, Ukravtodor will restore the transport “triangle” along the Severodonetsk-Starobilsk-Svatove route with access to Troyitske in the north of the region, and in general, thanks to the Big Construction program, a modern road network in the region.
Earlier, the World Bank for Reconstruction and Development has already provided co-financing for this project in the amount of $65 million.

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FRANCE TO INVEST EUR 100 MLN IN LUHANSK REGION – HEAD OF LUHANSK STATE ADMINISTRATION

Head of Luhansk Regional State Administration Serhiy Haidai has met with Ambassador of France to Ukraine Etienne de Ponsen in Kyiv to discuss financing opportunities for the railway communication in Luhansk region.
“The meeting with the ambassador extraordinary and plenipotentiary of France to Ukraine had good results for our region. We agreed on several issues and our French partners will provide financing for them. The amount of investment is estimated at more than EUR 100 million,” the press service of Luhansk Regional State Administration quoted Haidai as saying on Wednesday.
The funds will be spent on the construction of the railway communication to connect the Lantrativka – Kondrashivska-Nova section with the national railway system.
In addition, the sides agreed on the electrification of the railway network in the region and on the implementation of a project on cleaning the water supply system.
“The dialogue with Head of Luhansk Regional State Administration Serhiy Haidai regarding the priorities of the region’s economic development was very productive,” the ambassador said.

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UKRAINE’S RETAIL TRADE INCREASES BY 6.2%, HIGHEST GROWTH IN LUHANSK, POLTAVA, DONETSK REGION

Ukraine’s retail trade in January-June 2018 increased by 6.2% in comparable prices compared to January-June 2017, the State Statistics Service said on Friday. In June 2018 alone, retail trade decreased by 0.8% compared to May 2018, but it grew by 6.3% compared to June 2017.
The highest growth in retail trade in January-June of 2018 was recorded in the following regions: Luhansk (24.0%), Poltava (10.4%), Donetsk (10.3%), Zakarpattia (10.2%), Vinnytsia (9.9%), Kyiv (9.3%) and Ternopil (8.4%) regions. The State Statistics Service recalls that the report does not include information from temporarily occupied areas of the Autonomous Republic of Crimea and the city of Sevastopol and part of Russian-occupied Donbas in the east of Ukraine.

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