A project foreseeing the possible provision of EUR 100 million to Myronivsky Hliboproduct (MHP, Ukraine) agricultural company by the European Bank for Reconstruction and Development (EBRD) requires review, EBRD Senior Advisor on External Affairs Anton Usov has told Interfax-Ukraine.
“Some media reports that the EBRD allegedly rejected this project are not true. It was not even submitted to the board of directors for consideration,” he said on Thursday.
Usov said that the new date for its consideration by the bank’s directors will be announced additionally.
As reported, in January 2019, the EBRD said that in March 2019 its directors could consider the issue of providing EUR 100 million to MHP to acquire Slovenia’s Perutnina Ptuj.
In November 2018 MHP signed an agreement to acquire a 90.68% stake in Slovenia’s Perutnina Ptuj, a vertically integrated company in Southeastern Europe.
The European Bank for Reconstruction and Development (EBRD) could provide a loan of EUR 250 million to implement Ukraine Public Transport Framework II, according to a posting on the EBRD’s website.
According to the report, the decision to provide financing the EBRD board is to discuss on July 24, 2019.
“The EBRD will be signing loan agreements with respective companies and guarantee and project support agreements with respective cities. Each loan will be guaranteed by the respective municipality,” the bank said.
The investments will primarily focus on transport renewal (acquisition of new trolleybuses, buses, trams and metro cars as applicable) and the rehabilitation and/or modernisation of public transport infrastructure including automated fare collection, automatic vehicle location and traffic management systems.
As reported, in October 2015, the EBRD approved the provision of EUR 100 million under Ukraine Public Transport Framework.
The European Bank for Reconstruction and Development (EBRD) will provide Bank Lviv (Lviv) with funding in the amount of EUR5.3 million under the Women in Business program for lending to companies led by women and for the development of trade, according to a press release from the EBRD.
According to the report, the financing package will consist of a four-year loan of up to EUR4.3 million, which is provided in the hryvnia, for lending to micro, small and medium enterprises under the guidance of women. The Women in Business program provides for the provision of consulting services for women entrepreneurs. The program also includes technical assistance to financial institutions to improve service in companies led by women.
In addition, the EBRD financing package includes a limit opened to Bank Lviv in the amount of EUR1 million under the EBRD’s Trade Facilitation Program (TFP) to stimulate international and regional trade.
The European Bank for Reconstruction and Development (EBRD) plans in 2019 to increase the volume of investment in the Ukrainian economy to $1 billion, head of the Ukrainian office of the EBRD Marina Petrov has stated.
“The $500 million that we invested last year was not bad at all. This year we sincerely hope to increase it twice [investment in Ukraine],” she said at a meeting at the European Business Association (EBA), dedicated to the expectations of businesses from the presidential election.
However, she noted the importance of consistency and predictability of the future economic policy.
“We hope that there will be no reversal,” she said.
“The ongoing changes [political] carry both risks and opportunities. We hope very much for a balanced economic policy that will allow accelerating the growth that has already begun in the Ukrainian economy,” she told Interfax-Ukraine.
The banker stressed the need to continue cooperation with the IMF.
“We hope that, first of all, the work on the IMF program will continue. We already see investors ready to come to the economy [in Ukraine]. The most important thing is not to frighten investors, not to make unexpected economic decisions,” the expert said.
The Kyiv City Council at a meeting on Thursday approved the attraction of a loan of EUR 110 million from the European Bank for Reconstruction and Development (EBRD) to buy rolling stock under the Kyiv City Public Transport Project II.
According to the decision, municipal enterprise Kyiv Metropoliten will receive a loan of EUR 50 million at 6% per annum and the period of up to 12 years, including the two year grace period for paying the principal of the loan. Municipal enterprise Kyivpastrans will receive EUR 60 million for the period of up to 13 years at 6% per annum, including the three year grace period.
As reported, Kyiv city after Lviv has become the second city in Ukraine and 21st in the region, which joined the Green Cities Project of the EBRD.
According to a press release of the Kyiv City Administration issued the signing of the memo, the city plans to use this programme to implement projects for the renewal of the Kyivpastrans and Kyiv Metropoliten’s fleet with new buses, trolleybuses and subway cars, as well as a comprehensive reconstruction of the tram line and the Kontraktova Ploscha stop and overhaul of the Metro Bridge.
Recently, the EBRD Credit Committee approved the concept of projects for an estimated total cost of EUR 320 million, Kyiv Mayor Vitali Klitschko then said.
Under the Green Cities programme the EBRD provides support to partner cities in designing and implementing Green City Action Plans and assistance in selecting investment programmes and providing financing by international donors. In particular, the Green City Action Plans include measures to improve urban infrastructure, quality of air, cleanness and availability of land and water resources, green space areas.
The pilot programmes were implemented in Georgia, Armenia and Moldova. The programme was then approved by the EBRD board in autumn 2016. Lviv city was the first Ukrainian city participated in the programme. The city managed to raise EUR 20 million for Zelene Misto municipal enterprise for building a waste treatment facility and the rehabilitation of the Hrybovychi solid household waste landfill.
In autumn 2018, the EBRD approved the extension of the Green Cities programme (Green Cities 2) with the provision of up to EUR 700 million. Currently the programme has over EUR 1 billion of confirmed financing, including over EUR 250 million that has been invested.
The European Bank for Reconstruction and Development (EBRD) could provide EUR 149 million to national energy company Ukrenergo for the project to modernize power transmission networks, the bank has said on its website.
The project has passed final review, pending board approval.
The loan will finance procurement of up to 26 new transformers and the automation and upgrade of 12 high voltage substations in key locations of the transmission network of Ukraine. The total project cost is EUR 198.2 million, including EUR 49.2 million of own funds of Ukrenergo.
The project will enable Ukrenergo to upgrade its key transmission infrastructure, required for synchronization with the European Network of Transmission System Operators for Electricity (ENTSO-E).
In addition, the modernization will result in substantial energy savings and associated CO2 emission reduction.
