The European Investment Bank (EIB) Group has agreed to provide €60 million in financing to Ukraine to upgrade road border-crossing points in the west of the country.
The funding will cover terminals and buildings, including waiting areas, service and sanitary facilities and shelters, as well as access roads and customs-control equipment and software at Ukraine’s borders with the European Union and Moldova, the EIB Group announced on Wednesday.
The financing will be provided as a loan to the Ukrainian government via the Ministry for Recovery, Infrastructure and Transport of Ukraine.
The agreement was signed during a visit to Ukraine by EIB Group Vice-President Karl Nehammer.
“Ukraine’s border crossings are gateways to the EU, connecting businesses, people and markets,” Nehammer stated.
EU guarantee and additional support
The loan is backed by a European Commission guarantee under the EU’s Ukraine Investment Framework, a package designed to support investment in the country, the EIB Group said.
The project is also expected to be complemented by a €6 million EU investment grant and €2.5 million in EU technical assistance to support implementation.
Ukraine’s border upgrades are planned along roads that form part of the EU’s priority Trans-European Transport Network, known as TEN-T, a system of major road, rail and other transport routes across Europe.
The State Agency for Restoration and Infrastructure Development of Ukraine will carry out the project.
