KIEV, May 27 – The European Investment Bank has provided EUR 450 million in financing to the State Road Service of Ukraine (Ukravtodor) to reconstruct the approach roads to Kiev.

The agreement was signed in Kiev on Friday.

The total value of the project is estimated at EUR 1.07 billion. Ukraine's share of the project is EUR 170 million.

Ukravtodor Deputy Head Yevhen Prusenko said at a briefing after the signing of the agreement that the loan was being issued for 20 years with a five-year grace period. The interest rate is EURIBOR+0.7% per annum.