Ukrzaliznytsia has selected an independent auditor to assess the efficiency of the use of funds allocated by the European Union and international financial organizations for the development of European standard railway infrastructure in Ukraine.
This is reported by Finway
Selection of Auditor and Terms of Cooperation
As a result of an open competition, the winner was the company LLC “BAKER TILLY Ukraine”, which is part of the global network Baker Tilly International and has significant experience in auditing and consulting.
“Ukrzaliznytsia conducted an open competition for auditing and verifying the use of funds allocated by the EU and international financial organizations for the development of the European gauge in Ukraine <…> The winner of the tender was LLC “BAKER TILLY Ukraine” – one of the leading auditing and consulting firms in the country, which is part of the international network Baker Tilly International,” the statement said.
The engagement of an independent auditor is expected to ensure transparency and targeted use of international financial assistance. Payment for auditing services will be made exclusively from grants and funding from international partners.
Reduction of Service Costs and Strategic Projects
Ukrzaliznytsia emphasized that thanks to the competitive procurement procedure, it was possible to reduce the cost of auditing services by almost 40% compared to initial expectations.
Currently, a large-scale construction of European standard railway tracks and modernization of border crossing points with EU countries: Poland, Hungary, Slovakia, and Romania is underway in Ukraine. These changes are being implemented within the framework of the development of transport corridors of the trans-European transport network TEN-T.
Key investment partners of the project include the European Climate, Infrastructure and Environment Executive Agency (CINEA), which provides funding under the EU program “Connecting Europe Facility” (CEF), as well as the European Investment Bank (EIB).