AVELLUM ADVISES EBRD ON EUR50 MLN FINANCING OF NEW METRO CARS FOR KYIV METRO

AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) in connection with up to a EUR50 mln loan to Communal Enterprise “Kyivskiy Metropolitan” guaranteed by the Kyiv City Council.

Proceeds from the EBRD loan will be used to finance the procurement of 50 new metro cars (as well as related services and equipment). These metro cars will carry passengers on one of the Kyiv underground rail network lines. Such an upgrade of the Kyiv metro rolling stock is expected to encourage more people to use modern and efficient public transport instead of their private cars, reducing traffic congestion in Kyiv.

The EBRD remains the largest international financial investor in Ukraine and to date has committed more than EUR14.5 bln in over 488 projects to the country. The loan to “Kyivskiy Metropolitan” is a part of the Vital Infrastructure Support Programme launched by the EBRD in response to the economic fallout caused by the ongoing coronavirus pandemic to back the essential infrastructure.

AVELLUM team working on the project was led by senior partner Glib Bondar with support from associates Oleg Krainskyi, Anastasiia Zhebel, and Mariana Veremchuk.