13:12 01.10.2020

EBRD approves provision of up to EUR 567 mln for Window II under second Green Cities Framework

2 min read
EBRD approves provision of up to EUR 567 mln for Window II under second Green Cities Framework

 The European Bank for Reconstruction and Development (EBRD) on September 30 approved the provision of EUR 567 million for Window II under the second Green Cities Framework to support investments related to Green Cities, which expands the total cost of the Framework to EUR 1.149 billion.

According to the report of the bank, its board will consider the expansion of Window II to EUR 950 million, which would bring the total cost of the Framework to EUR 1.65 billion with funds from other donors.

The over-arching aim of the second Green Cities Framework (Window I and Window II) is to continue to serve as a sector-wide catalyst for addressing environmental challenges at the city level. This will be achieved through the preparation and subsequent implementation of Green City Action Plans.

Pilot programs were implemented in Georgia, Armenia and Moldova, after which the program was approved by the board of directors in the autumn of 2016. The first participant from Ukraine was Lviv, which was able to attract EUR 20 million for the Zelene Misto utility company for the construction of a plant for waste processing and reclamation of the Hrybovychi landfill.

In the autumn of 2018, the EBRD approved the extension of the Green Cities with the possibility of allocating additional financing in the form of various loans for a total amount of up to EUR 700 million. According to the Green Cities website, it currently has EUR 1.5 billion of confirmed financing.

Some 42 cities joined the program, including five from Ukraine: Khmelnytsky, Kryvy Rih, Kyiv, Lviv and Mariupol. It is planned to increase the total number of cities in the program to 100.

The EBRD, in particular, early September approved the provision of EUR 28.5 million to solve the problem of garbage in Khmelnytsky. On November 18, it is planned to consider a EUR 140 million loan at a meeting of the bank's board for Kyivteploenergo, and on December 2 – EUR 15 million for Lvivvodokanal.

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