State-controlled Ukreximbank (Kyiv) as a financial partner of the Big Construction project has provided 68 bank guarantees over the past three months to ensure tender offers and guarantees for fulfilling contractual obligations of road construction enterprises, the bank’s press service has said.
“We have simplified a lot of procedures for road workers, reduced the time for making decisions. And as a result, today the bank with a whole range of financial instruments in the equivalent of hundreds of millions of hryvnias ensures the timely execution of work of all companies involved in the construction and reconstruction of roads of state and local significance,” a member of the board of Ukreximbank, the curator of the corporate business, Oleksandr Ihnatenko, said.
According to the report, in July, with financial support from Ukreximbank, repair and construction work is carried out at more than 200 facilities in Ukraine. It is specified that next sections of updated roads with a length of over 740 km will soon be commissioned.
Ukreximbank was established in 1992, the state is the sole owner.
According to the National Bank of Ukraine, as of July 1, 2020, Ukreximbank ranked third (UAH 220.708 billion) among 75 banks operating in Ukraine.