17:18 10.07.2020

EBRD to provide EUR 25 mln loan to Ukraine's air navigator

1 min read
EBRD to provide EUR 25 mln loan to Ukraine's air navigator

The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to EUR 25 million to Ukrainian State Air Traffic Services Enterprise (UkSATSE), Infrastructure Minister Vladyslav Krykliy has said.

"This is a very timely and necessary support for the liquidity of the enterprise and ensuring its uninterrupted operation, because the air navigation service provider, UkSATSE, is part of the critical infrastructure for the state," he wrote in his Telegram channel.

According to the minister, the memorandum between UkSATSE and the EBRD was signed on Friday.

The EBRD said in a press release that the EBRD solidarity financing will support the further integration of UkSATSE into the Eurocontrol Common Route Charges System, system for the cost recovery of air traffic services, and Ukraine's accession to the European Common Aviation Area agreement as well as ensuring the successful implementation of the Local Single Sky Implementation Programme.

"The financing is part of the EBRD Solidarity Package, which focuses on ensuring continuity of key services under threat by the economic impact of Covid-19. The EBRD expects to dedicate its total business investment of up to EUR 21 billion in the period 2020-21 to combat the coronavirus crisis," the EBRD said.

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