Ukravtodor to spend UAH 6.5 b on repaying foreign debts in 2010

15:58

The State Service of Automobile Roads of Ukraine (Ukravtodor) is intending in 2010 to spend UAH 6.5 billion on repaying foreign debts, Ukravtodor Head Vadym Hurzhos said at press conference on Thursday.

According to Hurzhos, initially the volume of credit payments was UAH 9.8 billion, but as a result of talks with creditors payment of part of the sum was postponed.

In addition, Hurzhos said that UAH 13.5 billion would be used to finance the sector's needs.

In particular, it is planned in 2010 to reconstruct and construct 374 kilometers of roads worth UAH 3.7 billon, and perform capital repairs worth about UAH 5 billion on 680 kilometers of roads.

The Ukravtodor head said that the sources of financing would be the national budget and loan funds.

"Revenues from the national budget special fund could be UAH 10 billion if a law on increasing fuel excise duties is approved. Existing credits from international financial organizations, including those of the European Bank for Reconstruction and Development, the European Investment Bank and the International Bank for Reconstruction and Development, will total UAH 3.5 billion. Funds attracted through the system of paying with bills of payment and new credits in 2010 are to be UAH 6.5 billion." Hurzhos said.