The Cabinet of Ministers authorized Wednesday the borrowing of €450 million from the European Investment Bank

The Cabinet of Ministers authorized Wednesday the borrowing of €450 million from the European Investment Bank to build a northern bypass highway around Lviv and to rebuild the southern two-thirds of the Kyiv-Odesa M-05 highway, starting in Cherkasy Oblast. This soft loan represents that first 10% of €4.5 billion in projects sketched out last January by the European Commission and the World Bank. Stretching through the 2020s, the plan calls for investing in 39 Ukrainian infrastructure projects to fully integrate Ukraine in the Trans-European Transport Network or TEN-T.