Sayenko Kharenko has acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing EUR 10.6 million loan to Khmelnytskyi Communal Enterprise “Electrotrans”, the urban transport company of the city of Khmelnytskyi under EBRD’s Green Cities programme.
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.
EBRD’s financing will improve the reliability and quality of services for public transport users in Khmelnytskyi, as well as improve air quality.
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 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.
Khmelnytskyi is a major centre in western Ukraine, with a population of around 270,000 people.
Sayenko Kharenko team was led by partner Igor Lozenko and included senior associate Oles Trachuk and associate Vladyslava Mitsai.