US to allocate nearly $700 mn for Ukraine’s transport, logistic modernization
According to Minister Kubrakov, the upgrades will "improve logistics and increase export capacity" as Ukraine seeks to boost economic activity amid Russia's invasion. The post US to allocate nearly $700 mn for Ukraine’s transport, logistic modernization appeared first on Euromaidan Press.
The United States will pledge nearly $700 million to help upgrade Ukraine’s logistic and transport infrastructure, Ukraine’s Minister of Infrastructure Oleksandr Kubrakov announced on 17 October.
The funds will go towards modernizing and increasing capacity at Ukraine’s ports, railways, and border crossings. According to Minister Kubrakov, the upgrades will “improve logistics and increase export capacity” as Ukraine seeks to boost economic activity amid Russia’s invasion.
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Kubrakov made the announcement after meeting with US Special Representative for Ukraine Economic Recovery Penny Pritzker, who is visiting Kyiv this week.
The minister stated that transparent and accountable use of US assistance will help attract additional private sector investment for Ukraine’s massive reconstruction needs. “I am confident that accountability and transparency of processes will motivate the private sector to participate in large-scale reconstruction efforts,” Kubrakov said.
The $700 million is part of over $13 billion in economic, humanitarian, and security aid the US has committed to Ukraine this year. Improving Ukraine’s logistics infrastructure is vital for increasing exports and boosting Ukraine’s post-war economic recovery.
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The post US to allocate nearly $700 mn for Ukraine’s transport, logistic modernization appeared first on Euromaidan Press.
