Sayenko Kharenko has advised the European Bank for Reconstruction and Development on a EUR 10.6 million loan to Khmelnytskyi Communal Enterprise Electrotrans under the EBRD’s Green Cities program.
Electrotrans is the urban transport company of the city of Khmelnytskyi, an urban center in western Ukraine with a population of approximately 270,000.
According to Sayenko Kharenko, “the loan has a maturity of 13 years and, together with a broader finance package which includes an investment grant from the European Union’s Neighbourhood Investment Platform of up to EUR 2.75 million and an investment grant of up to EUR 1.7 million from the EBRD Crisis Response Special Fund (benefitting from a contribution from the government of the United States of America), will be used to finance the purchase of new trolleybuses along with maintenance and diagnostic equipment.”
According to the firm, “EBRD’s financing will improve the reliability and quality of services for public transport users in Khmelnytskyi, as well as improve air quality. The EBRD is the largest international financial investor in Ukraine. The EBRD has made a cumulative commitment of more than EUR 15 billion since the start of its operations in the country in 1993 and pledged to provide EUR 3 billion of support for the country’s economy in 2022-23, with support focussing on vital infrastructure, food and energy security, trade, and support for the private sector.”
Earlier this year, Sayenko Kharenko advised the EBRD on a EUR 25 million loan to the City of Lviv (as reported by CEE Legal Matters on February 10, 2023).
The Sayenko Kharenko team was led by Partner Igor Lozenko and included Senior Associate Oles Trachuk and Associate Vladyslava Mitsai.
