Business News, 20/07/2018

World Bank Funds Utilities Reconstruction in Kharkiv

This week, World Bank Country Director for Belarus, Moldova and Ukraine Satu Kahkonen has visited Kharkiv to examine the sewerage and other facilities planned for reconstruction.

World Bank officials together with municipal managers inspected the city sewage treatment plant in Dikaniovka, surveyed heating system facilities and met with business representatives.

Satu Kahkonen states that the World Bank is funding three main sectors in the Kharkiv region, which are road repair, reconstruction of heating mains and the water supply system.

Within this plan, the World Bank will finance the reconstruction of Dikaniovka and Bezlyudivka sewage treatment plants. The loan amounts to $65 million which should be repaid by 2032. The project’s contract was signed by Tahal-Khilari, the Israeli-Indian company, for the implementation period of 36 months.

In addition with the credit from the World Bank, Kharkiv services are planning to replace more than 6.7 km of the almost destroyed heating system, $107.5 million is to be allocated by the bank to fund the reconstruction of heating system, as well as the modernization of boiler rooms. The first $4 million to purchase equipment should be available this fall.

The World Bank’s total investment into the new infrastructure of the Kharkiv region amounts to $500 million. “We will consider further cooperation with Kharkiv,” Satu Kahkonen noted.

It is important to note that the World Bank funds Kharkiv municipal utility companies despite numerous charges and accusations against their authorities of financial frauds, corruption and rogue schemes.

Text: Olena Sokolynska

Photo: vodocanal