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EBRD intends to provide EUR 25 mln to support liquidity of Lviv during war
KYIV. Sept 20 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) may provide a senior loan of up to EUR 25 million provide emergency liquidity support to the City of Lviv and key municipal enterprises to mitigate the effect of the ongoing war, the EBRD reported on its website on Tuesday.
According to the report, the decision to provide financing is pending approval by the bank’s board of directors.
As stated in the announcement, funds in the form of two tranches of EUR 15 million committed and EUR 10 million of uncommitted financing will be used to compensate for temporary revenue losses (in particular capital revenues) and additional expenses due to the ongoing war related issues and support the City’s vital municipal infrastructure providers with the day-to-day running costs (payroll, etc.), operating and maintenance costs, servicing the debt under existing projects with the EBRD.
The loan is part of the Bank’s post-war Resilience and Livelihoods Framework (RLF). Earlier, the EBRD promised to invest EUR 1 billion this year in the Ukrainian economy together with donors and partners.
