📋 Tender Overview
Location: Ukraine
Project number: 55503
Business sector: Municipal and environmental infrastructure
Notice type: State
Environmental category: B
EBRD Finance Summary: EUR 50,000,000.00
Total Project Cost: EUR 55,000,000.00
Project Description
A senior loan of up to EUR 50 million, to provide emergency support to the City of Kyiv (the "City") via liquidity financing to its key municipal utility, to mitigate the effect of the ongoing war and to ensure uninterrupted provision of critical municipal services to the City's residents, internally displaced persons ("IDPs") and enterprises (the "Project"). The recipient of the liquidity support from the City is Communal Enterprise "Kyivteploenergo" (the "Recipient" or "KTE"), a municipal district heating company, an existing client of the Bank.
Given war- related risks, the loan will benefit from a partial first loss risk cover by the EU Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience ("EU UIF MIIR") Programme.
Project Objectives
The Bank's loan will support the key municipal utility by addressing its critical liquidity needs, to ensure uninterrupted provision of essential public services to the City's residents and businesses, despite the direct damages from the war and additional demand for district heating services driven by the presence of significant number of IDPs.
Transition Impact
ETI score: 70
Primary Quality Inclusive, through support to the City's district heating operator responsible for provision of heating services to schools, kindergartens, hospitals, residential and business customers, as well as critical generation of electricity for the City and the grid. Both the City's permanent residents and IDPs will benefit from the sustainable district heating services and electricity generation by KTE.
Secondary Quality - Resilient, through: (i) direct support to KTE, the main heat producer and the operator of key power generating capacities, which has been directly affected by the war, and (ii) indirect support to the City, which is trying to sustain its operations amid the ongoing macroeconomic and security challenges.
