Ukraine will have a special Fund for repair and road construction

Ukraine will have a special Fund for repair and road construction


The Fund will be created in 2018.

The Verkhovna Rada adopted the law on the establishment of the state road Fund to Finance the repair and construction of roads.

For the bill №4014а a basis and as a whole voted 248 deputies, reports UNIAN.

Introducing the document, the Chairman of the parliamentary Committee on transport Yaroslav Dubnevich noted that its adoption will allow to increase funding for roads and significantly improve their condition by creating a special Fund with the target utilization of funds.

Currently, more than 90% of roads require major repairs or reconstruction.

Dubnevich noted that the launch of the road Fund is proposed to be moved from 2017 to 2018, followed by the financing in the amount of 50% of the proceeds to the Fund of the excise tax on petroleum products to 2018, and 75 percent in 2019, and 100% in 2020.

“I emphasize that the President of Ukraine Petro Poroshenko identified this bill as urgent,” he added.

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We will remind, in Ukraine already in 2017-2018 may receive first paid, or the so-called concession roads built by private investors. This was stated by the Minister of infrastructure Vladimir Omelian. Concession roads will be built as an alternative to the existing ones.