Document of
                                          The World Bank

                                    FOR OFFICIAL USE ONLY

                                                                                               Report No: 73464-UA




                                    RESTRUCTURING PAPER

                                                  ON A

                        PROPOSED PROJECT RESTRUCTURING
                                    OF THE
                     ROADS AND SAFETY IMPROVEMENT PROJECT
                                    P100580
                                  LOAN 7677-UA
                        BOARD APPROVAL DATE: 21-Apr-2009


                                                    TO

                                               UKRAINE


                                              24-Oct-2012




ECSTR
EUROPE AND CENTRAL ASIA REGION


This document has a restricted distribution and may be used by recipients only in the performance of their
official duties. Its contents may not otherwise be disclosed without World Bank authorization.
Regional Vice President:       Philippe H. Le Houerou, ECAVP
      Country Director:        Qimiao Fan, ECCU2
        Sector Director:       Laszlo Lovei, ECSSD
     Task Team Leader:         Andreas Schliessler, ECSTR




                           2
                                Extension of Closing Date


           UKRAINE – ROADS AND SAFETY IMPROVEMENT PROJECT
                                P100580
                             LOAN 7677-UA

                                  Restructuring Paper



1.    The closing date for the Ukraine Roads and Safety Improvement Project, Loan
7677-UA, P100580 will be extended from 31-Dec-2012 until 31-Dec-2013.

2.      The project development objective continues to be to improve the condition and
quality of sections along M-03 highway, and increase road safety throughout Ukraine.
This objective is likely to be achieved if the project closing date is extended. Besides the
extension of the project closing date, there is no other change to the project.

3.     The proposed extension is necessary since some of the civil works contracts
cannot be completed before the original closing date. This is especially valid for the
additional contracts which were awarded after the first restructuring of the project.

4.     This will be the first extension of the project closing date. No further extensions
are expected.




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