KYIV. Dec 1 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) and the Ukrainian State Air Traffic Services Enterprise (UkSATSE) on November 30 resumed cooperation under an air navigation system modernisation project originally negotiated in 2012 and UkSATSE will utilise a long-term loan from the EBRD of up to EUR 41.2 million.
An Interfax-Ukraine correspondent has reported that the updated document was signed by EBRD Director for Ukraine Sevki Acuner and UkSATSE Head Dmytro Babiychuk.
Under the new agreement, the loan will help UkSATSE implement the investment programme approved by the European Organisation for the Safety of Air Navigation (EUROCONTROL).
The investment programme comprises the replacement and modernisation of UkSATSE’s communication, navigation, surveillance and data processing equipment.
EBRD said that it is of particular importance to both UkSATSE and Ukraine, as it enhances the safety and security of the air navigation service provision over the Ukrainian territory and helps increase flight efficiency for airspace users.
Acuner said that the loan is issued under guarantees of the Ukrainian government.
The project is expected to be supported by a parallel loan of a similar size and nature from the European Investment Bank (EIB).
UkSATSE said that it plans to send EUR 20 million to increase the quality of navigation in the country and international airspace over the Black Sea in 2016.
The financing facility is opened for 10 years.
