Sayenko Kharenko advises EBRD on EUR 25 million loan to the city of Lviv
Sayenko Kharenko has acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing EUR 25 million loan to the city of Lviv under EBRD’s Resilience and Livelihoods Framework.
The loan has a maturity of 4.5 years and will be used to provide liquidity support for Lviv’s municipality and its key municipal companies – including the transport company Lvivelectrotrans, the road construction, maintenance and traffic-management enterprise Lvivavtodor, the water operator Lvivvodokanal, the district heating company Lvivteploenergo and the waste management operator Zelene Misto.
EBRD’s loan will help these entities provide essential services and compensate for temporary revenue losses and additional war-related expenses.
EBRD is the largest international financial investor in Ukraine. EBRD has made a cumulative commitment of more than EUR 15 billion since the start of its operations in the country in 1993.
Lviv, Ukraine’s seventh largest city, is the biggest centre in western Ukraine, with a population of around a million people.
Sayenko Kharenko team was led by partner Igor Lozenko and included associates Oles Trachuk and Oleksandr Motin.