The Board of Directors of the European Bank for Reconstruction and Development adopted a decision to allocate a new tranche of EUR 190 million to the State Road Agency of Ukraine. This was reported in Ukravtodor.
The funds are provided as part of a financing package totaling EUR 450 million and are intended to improve the technical and operational condition of sections of the M-05 Kyiv-Odesa highway in the Kirovohrad, Mykolaiv, and Odesa regions.
It is noted that the provision of the new tranche became possible thanks to the progress achieved by Ukravtodor in reviewing the agency's management systems with the aim of further promoting the necessary reforms. In particular, independent experts developed a comprehensive action plan for the prevention of corruption, approved by a high-level steering group, which includes representatives of the government, the President's Office, the EBRD and Ukravtodor.
"This plan, which is already being implemented, envisages a comprehensive approach to ensuring integrity and compliance, improving corporate governance and internal mechanisms, policies and procedures to prevent corruption," the message reads.
The reform in Ukravtodor, aimed at overcoming corruption in the road sector, is a pilot program in accordance with the Memorandum of Understanding on Strengthening Corporate Governance in the State Sector, signed in October 2020 between the Government of Ukraine and the EBRD.
