“The European Bank for Reconstruction and Development (EBRD) provides Kyiv with a EUR 50 million loan to ensure the liquidity of the utility company “Kyivteploenergo” and its performance of functions to provide the capital with heat.”, — write: www.epravda.com.ua
The European Bank for Reconstruction and Development (EBRD) provides Kyiv with a EUR 50 million loan to ensure the liquidity of the utility company “Kyivteploenergo” and its performance of functions to provide the capital with heat.
About this it is said in the bank’s message.
According to the EBRD announcement, the loan is accompanied by a guarantee from the European Union covering 25% of its amount, as well as a grant of 5 million euros from the United States.
“The EU first loss guarantee will cover 25% of the loan amount and is critical to this transaction, which will help the city and its key utilities meet critical liquidity needs immediately and ensure the continuity of essential public services. The EBRD loan is accompanied by a US grant of 5 million euros,” the bank said in a statement.
It is noted that the EBRD loan will help to repair the city’s damaged infrastructure in preparation for the heating season and will ensure the liquidity of “Kyivteploenergo”, which can continue its activities and retain staff.
The release emphasizes that since February 2022, the EBRD has provided more than EUR5.2 billion to Ukraine, including up to EUR1.4 billion this year, with a priority focus on supporting energy security, critical infrastructure, food security, the private sector and key reforms.
We will remind:
The first cogeneration installations within the framework of the “Kyivteploenergo” project in Kyiv will appear already in November-December 2024.