13:59 07.10.2020

EBRD signs EUR 36.5 mln agreement to finance city of Khmelnytsky under Green Cities programme

2 min read
EBRD signs EUR 36.5 mln agreement to finance city of Khmelnytsky under Green Cities programme

The European Bank for Reconstruction and Development (EBRD) has signed a EUR 36.5 million financial package, under which Khmelnytsky will join the Green Cities programme.

The agreement on the financial package was signed at the EBRD 2020 Annual Meeting on October 7.

"As part of the investment, the city of Khmelnytsky is joining the EBRD Green Cities initiative. Under the programme, the city will develop and implement a Green City Action Plan, which will identify, prioritise and address the region's most pressing environmental challenges," the bank said.

According to the press release, the Bank is providing a loan of up to EUR 28.5 million to municipal utility company Spetskomuntrans, which is collecting, treating and disposing of solid waste in Khmelnytsky region.

This is complemented by a EUR 5 million investment grant from the EU, an additional contribution of up to EUR 3 million from the city of Khmelnytsky, as well as previous technical cooperation funds provided by the EU and Sweden for the preparation of the project.

"The financing package will allow for the closure of the existing landfill and the rehabilitation of the site. Two new cells will be constructed in line with EU standards, equipment will be purchased and modern recycling and composting facilities will be built. Furthermore, the city will buy new waste collection vehicles and waste containers to encourage local residents, public institutions and businesses to separate their waste," the bank said.

As reported, Phase I of the project will address the city's urgent investment needs with respect to the rehabilitation of the existing landfill, the construction of a new engineered sanitary landfill in compliance with the EU standards adjacent to the old one, the acquisition of new landfill equipment to ensure sustainable operation of the new landfill, and improvements of the solid waste collection and transportation systems co-financed from the city's budget.

Phase II of the project includes the construction of a new material recovery facility for non-organic waste and a separate composting facility for pre-sorted organic waste that will reduce the share of solid waste going to the landfill by promoting recycling and providing a modern solid waste management infrastructure with respect to sorting and composting.

The investment will lead to significant CO2 emission savings of up to 150,000 tonnes per year.

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