Funds can be directed for the construction, reconstruction, repair and maintenance of streets and roads.
The President of Ukraine Vladimir Zelensky has signed the law about the efficient allocation of funds from the budget on repair of roads, reports the Chronicle.info with reference to Country.
On Sunday, June 28, informs the press service of the head of state.
“The document ensures effective financing of development of road industry of Ukraine. Thanks to this law the regional state administration will be able to attract additional funding in the form of credit funds for repairs of local roads in 2020”, — stated in the message.
So, according to the law, 90% of the total subsidy is divided between the relevant local budgets (except the budget of Kyiv), depending on the length of local roads in the respective administrative-territorial unit on 1 January of the year preceding the planned.
It is reported that these funds can be directed for the construction, reconstruction, repair and maintenance of streets and roads of communal property in settlements in the amount of not more than 20% of the volume of such grants, approved the law on state budget for the respective local Treasury.
“Also, these funds can be spent on repayment and servicing of local debt in local domestic and foreign borrowings attracted for the implementation of repair and construction works on motor roads of General use of local significance and municipal property, in the amount of not more than 30% of the volume of such subventions”, — said the press service Zelensky.