For many years Ukraine has been actively and effectively cooperating with International financial institutions (IFIs), which are aimed to assist in the implementation of the infrastructure, institutional and system projects in various countries. This assistance is done by providing long-term financing and consulting. To implement a number of the infrastructure projects (capital repairs, reconstruction and construction of roads) Ukraine has signed several loan agreements with the World Bank (IBRD), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB).
Implementation of joint projects with IFIs is carriedout in accordance with the Procedure for preparation, implementation, monitoring and completion of projects for economic and social development of Ukraine, financed by International financial institutions, which is approved by the Resolution No. 70 of the Cabinet of Ministers of Ukraine dated January 27, 2016. The above procedure provides that direct implementation of a project shall be carried out by the authorised agency. According to loan agreements signed by Ukraine, Ukravtodorwas determined to be the agency authorised to implement the infrastructure projects (the implementing agency).
In order to implement projects and to meet requirements of theloan agreements Ukravtodoras an implementing agency signed project agreements with the relevant IFIs. Provisions of the loan and project agreements for joint projects withEBRD and EIB provide for establishment of the Project implementation unit (hereinafter – PIU) to coordinate, manage, monitor and evaluate all aspects of the Project implementation, which is one of the prior conditions for the entry into force of the Loan Agreement. According to the Loan Agreements and the Project Agreements for implementation of the IBRD-financed projects, the implementing agency establishes and usesassistance of PIU with adequate resources and appropriately qualified personnel throughout the Project implementation.
The main activities of Project implementation unit of Ukravtodor are:
– an ongoing management and monitoring of investment projects;
– arrangement of a project financial management, financial reporting, auditing of financial statementsin accordance withthe IFIs conventions and the current law of Ukraine;
– arrangement of biddings for procurement of works and services and preparation of contracts with winners of international biddings;
– monitoring and control over the performance of contracts in accordance with IFIs’ requirements;
– monitoring of construction works (supervision and an ongoing control);
– preparing reports on the projects in compliance with IFIs and state authorities in accordance with the current law of Ukraine, including the final report on the results of project;
– coordination of Ukravtodor’sinteraction with other organizations and institutions involved in the projects and with IFIs for the preparation and implementation of projects.