U.S. to provide $700 mln to upgrade Ukrainian ports, railways, crossing points - Ukrainian deputy PM

MOSCOW. Oct 17 (Interfax) - The United States will provide nearly $700 million for upgrading Ukrainian ports, railways, and crossing points, Ukrainian Deputy Prime Minister for Reconstruction and Minister for the Development of Communities, Territories, and Infrastructure Alexander Kubrakov said following a meeting with United States Special Representative for Ukraine's Economic Recovery Penny Pritzker.

"We should modernize Ukrainian crossing points, ports, and railways. This would improve logistics and increase export capacity. The U.S. plans to provide nearly $700 million for that," Ukrainian media quoted Kubrakov as saying on his social account.

While meeting with U.S. officials, the parties also discussed the need for investments in the reconstruction of damaged Ukrainian power grids and municipal infrastructure, as well as the agricultural sector's development, he said.

"All these sectors should be prepared for private initiative and capital," Kubrakov said.

Ukraine and the U.S. have set up a joint working group to develop a cooperation model for implementing specific projects, he said.

"Accountability and transparency of processes would motivate the private sector to engage in major recovery projects," Kubrakov said.