REUTERS
Most of the funds have not yet been used, as it is required to make sure that the available funds are invested effectively and for the benefit of the public.
Abby Adhimi, EU Project Manager for the "Assistance to Ukrainian Authorities in Improving Infrastructure Project Cycle Management," says the European Union and its financial institutions have provided Ukraine with EUR 6 billion for infrastructure projects under various programs.
In particular, he said that the European Union, together with its banks, had allocated EUR 6 billion in investment for Ukraine's infrastructure projects. Most of the funds have not yet been used, as it is required to make sure that the available funds are invested effectively and for the benefit of the public. The ability to correctly prioritize infrastructure projects to ensure best value for money is the basis of the Action Plan for implementing the Strategy for Infrastructure Project Cycle Management Reform in Ukraine for 2020 – 2024, according to the Ukrainian Infrastructure Ministry's press service.
As reported, the Strategy and the Action Plan were presented on December 13.
"The implementation of the Strategy will improve management of the infrastructure projects' life cycle, remove obstacles to the effective planning, preparation, and implementation of projects in line with best international and European practices. Not only will this help Ukraine wisely invest EUR 6 billion, which has already been promised by the European Union, it will also ensure that the infrastructure projects developed meet the highest quality standards," the press service added.
It is noted that the Infrastructure Ministry recommended that the Cabinet of Ministers adopt a comprehensive Action Plan for implementing the Strategy for Infrastructure Project Cycle Management Reform in Ukraine for 2020 – 2024.
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The implementation of the Transport Strategy will achieve the following results:
• Safer and better infrastructure and services;
• Attracting significant investments from international partners and private investors;
• Reducing the time it takes to build infrastructure projects;
• Control over construction costs through better planning and a competitive transparent procurement process;
• Accelerating the integration of Ukraine’s infrastructure systems with those of European countries;
• Improving the professional qualification of responsible subjects of the construction industry and authorities; and
• Increasing the transparency and predictability of infrastructure projects.
As UNIAN reported earlier, since 2018, Ukraine's Infrastructure Ministry together with the Ministry of Finance and local authorities (11 cities) have been implementing the project of the European Investment Bank (EIB), titled "Ukraine Urban Public Transport Project." It is aimed at upgrading the fleet of trolleybuses, trams, buses, and subway cars, as well as developing infrastructure (replacing traction substations, and installing modern fare payment systems, etc.). To this end, it is envisaged to attract within three years EUR 600 million in credit funds from the EIB and the European Bank for Reconstruction and Development (EBRD).