Skip to main content

World Bank cuts Ukraine financing

The World Bank is reducing its financing of projects in Ukraine until 2016. The new cooperation strategy between the bank and the country's government follows a drop in financing through slow spending loans extended by the bank to the country. The bank will provide US$150million for the Second Project for Exports Development in 2012. And Ukraine can also receive $1billion in 2013–2014, but both financing packages depend on development of economic reforms in the country during the following two years. The
June 14, 2012 Read time: 2 mins
The 2332 World Bank is reducing its financing of projects in Ukraine until 2016.

The new cooperation strategy between the bank and the country's government follows a drop in financing through slow spending loans extended by the bank to the country.

The bank will provide US$150million for the Second Project for Exports Development in 2012. And Ukraine can also receive $1billion in 2013–2014, but both financing packages depend on development of economic reforms in the country during the following two years.

The list of the World Bank's new financing programmes in Ukraine also includes the second project for motor road development and traffic safety; the centralised heating project; improving efficiency and upgrading the gas sector ($200-300million); the second project for electric power transmission ($200million); the second project for city infrastructure development ($200million),, and the project for the state statistical system development ($10million).

Meanwhile, in Zaporizhya, the industrial metropolis in Ukraine’s south-east, a cable-stayed bridge over Dnieper River is under construction with formwork from 203 Doka.

The multi-lane bridge is being built alongside an older viaduct and the two separate roadway slabs are cable-stayed off twin H-shaped suspension towers 150m-high.

Contractors Mostobud expect the bridge to be completed by 2013.

For more information on companies in this article

Related Content

  • David Barwell suggests six steps for closing the UK funding gap
    January 11, 2019
    Six steps for closing the UK funding gap Plenty of private money is seeking UK investment opportunities. The government and the infrastructure sector in general must make projects more attractive, writes David Barwell* It is widely acknowledged that the UK faces mounting economic, environmental and social problems if the nation's infrastructure fails to meet present and future demands. Government estimates propose that almost €561 billion is required to bridge the infrastructure funding gap. As part o
  • VIDEO: Gap closed for Gordie Howe Bridge
    July 26, 2024
    A 26m gap in the deck was recently closed on the bridge that will connect Detroit in the US state of Michigan and Windsor in the Canadian province of Ontario.
  • Serbia reduces cost of highway construction
    March 22, 2012
    Serbia has managed to reduce the cost of building the Corridor 10 highway by €80 million. These funds will instead be used to pay for upgrades and improvements needed for the second section of the highway project, close to Neradovci. So far some 180km of the Corridor 10 highway has been built over a 40 month time frame. A further 150km of the highway has still to be built. Work on the Corridor 10 motorway is also being financed by the European Bank for Reconstruction and Development and the state budget.
  • Russia's key highway development project
    February 8, 2012
    One of the largest construction programmes in Europe is being carried out to get a Russian resort ready for the Winter Olympics. Patrick Smith reports