KIEV, Dec. 13 - The European Bank for Reconstruction and Development announced it has signed an agreement on the issue of up to EUR 41 million to the Ukrainian State Air Traffic Service Enterprise (UkSATSE) to finance the modernization of the air navigation system.

The project will bring the standards of the UkSATSE into line with the Single European Sky program.

According to the report, the European Investment Bank will provide parallel financing of the same sum to finance the project, which will help the state and the national provider of air navigation services achieve compliance with European Union standards, enhance the level of safety, and increase airspace capacity.