He also informed Teixeira that he had instructed to invigorate talks with the European Bank for Reconstruction and Development (EBRD) and the World Bank on infrastructure and investment projects.
“Our government will spend loans on development, rather than on consumption and the coverage of the [budget] deficit,” he said. “We’re abiding by liberal economic values, and thus we realize that Ukraine’s open market-oriented economy should be competitive. Therefore, there is no other way for our state but to modernize and reform.”
In his words, the Cabinet of Ministers has already prepared a number of interesting projects that foresee financial support from the side of international financial organizations and the involvement of investors. Road building is among the projects.
Azarov noted that Ukraine should raise at least $15-20 billion to implement infrastructure projects.
Ukraine’s gas transportation system annually supplies about 75 billion cubic meters of natural gas to domestic consumers and 110-120 billion cubic meters to consumers in 19 European states.
Preliminary agreements between Ukraine and the EBRD, the World Bank, the European Investment Bank, the International Finance Corporation, the European Commission were reached in spring and summer 2009 under which Ukraine could obtain $1.5-2 billion for the modernization of its gas transportation system. However, their implementation was postponed because Ukraine had been dragging out the reform of the gas sector.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kyiv, March 16 (Interfax-Ukraine) \u2013 Ukraine’s government is preparing a proposal for the European Union to modernize the Ukrainian gas transportation system, Ukrainian Prime Minister Mykola Azarov said at a meeting on Tuesday with Jose Manuel Pinto Teixeira, the head of the Delegation of the European Union to Ukraine.
“The construction of gas transportation routes bypassing Ukraine has become the fact, therefore we’re clearly aware that only the profound modernization and the enhancement of efficiency \u2013 both technical and economic \u2013 of the Ukrainian gas transportation system will give our, in fact the most reliable route competitive advantages,” the government’s press service quotes Azarov as saying.<\/p>\n","protected":false},"author":134,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[125],"tags":[],"class_list":["post-16081","post","type-post","status-publish","format-standard","hentry","category-market-news"],"acf":[],"yoast_head":"\n