KYIV, Oct 23 – The European Investment Bank (EIB) has approved the provision of a credit line of EUR 450 million to finance the construction of Lviv Northern bypass and the rehabilitation of sections of M-05 highway in Cherkasy, Kirovohrad, Mykolaiv and Odesa regions in Ukraine.

According to the report of the bank, its Board of Directors approved the project on October 15, 2019.

The EIB said that the investments will improve the quality of the extended TEN-T network (Trans-European Transport Network) by creating safer road conditions and reducing environmental pollution. In addition, the Lviv Northern bypass will shorten travel time and divert traffic from the city of Lviv.