Regional state administrations will have the opportunity to finance road repairs through loans starting in 2020
President Volodymyr Zelenskyy signed the law on amendments to the Budget Code No. 677-IX, which concerns financing of road construction. The law provides for the possibility for regional governments to attract additional financing in the form of loans for the repair of local roads starting in 2020.
90% of the total subvention will be distributed between the relevant budgets (except the Kyiv budget), depending on the length of local roads in the regions. The funds can be used for the construction, reconstruction, repair and maintenance of municipally owned streets and roads.
Also, up to 30% of the subvention can be used to repay and service local debt on local internal and external loans raised for road repair and construction work.
