one goal of the EBRD-Ukravtodor partnership is to create by this summer a joint stock company within Ukravtodor capable of generating capital by issuing infrastructure bonds. With international demand strong for Ukraine hryvnia bonds, planners believe foreign demand could extend beyond paying for international highways to pay for regional roads. Last year, the Cabinet of Ministers extended $840 million in state guarantees to Ukravtodor. The agency sold $500 million worth of bonds to three state banks – Ukreximbank, Ukrgasbank, and Oschadbank.