EBRD considers EUR 50 mln for Kyivteploenergo

19:13, 06.09.2024 1 min read

The European Bank for Reconstruction and Development (EBRD) may provide a EUR 50 million loan to Kyivteploenergo for critical needs of the heating systems.

According to a statement on the bank's website, the board of directors will consider the project on September 25.

It is noted that the total amount of the project is estimated at EUR 55 million, of which EUR 5 million will be provided by the EBRD Crisis Response Special Fund as a grant.

"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," according to the project description.

As reported, in 2021, the EBRD approved a project to allocate EUR 140 million to Kyivteploenergo for the development of the capital's heating infrastructure.