EIB lends EUR 115.5 million for environmental and small and medium-sized investments in Ukraine

Published: 4 February 2010 y., Thursday

Eurai
The European Investment Bank (EIB) is lending EUR 15.5 million to upgrade water supply and wastewater treatment in the City of Mykolayiv (southern Ukraine) and EUR 100 million to finance small and medium-sized investments in the areas of SMEs, energy efficiency and the environment in Ukraine.

The loan of EUR 15.5 million will finance the rehabilitation and modernisation of water supply and wastewater collection and treatment facilities in the City of Mykolayiv, which has over half a million inhabitants. The EIB funds will help the City to meet national and international standards and provide the local population with a higher quality of drinking water and wastewater services. The City of Mykolayiv is the project promoter and Mykolayiv Vodokanal is the final beneficiary of this loan.

Due to the close distance, 65 km, of the City of Mykolayiv to the Black Sea this project will help to fulfil Ukraine’s commitments under the Convention on the Protection of the Black Sea against Pollution and also represents an important step towards realising the environmental dimension of the European Union’s Black Sea Synergy.

The loan of EUR 100 million is being provided to FORUM Commercial Bank and will indirectly support smaller investments with total costs of up to EUR 25 million promoted by SMEs as well as energy efficiency and environmental protection projects undertaken by mid-cap companies and public entities in Ukraine.

Through its loans, the EIB finances projects usually implemented by SMEs (with fewer than 500 employees) but also by mid-cap companies or municipalities for energy efficiency and environmental protection. To increase the access of SMEs to long-term financing, the EIB closely cooperates with local financial institutions – such as the FORUM Bank – which have local market expertise, particularly in providing services to small and medium-sized entrepreneurs and public entities through a well-developed network. This is the first EIB operation of this type in the Eastern Partnership countries, including Ukraine, under the Joint IFI Action Plan being implemented by the EIB, the EBRD and the World Bank Group as a response to the current financial crisis.

Background:

The mission of the EIB, the European Union’s bank, is to contribute to the integration, balanced development and economic and social cohesion of the EU Member States by financing sound investment. Outside the Union, EIB lending is carried out in support of EU economic cooperation and development policies.

The EIB has so far provided four loans in Ukraine, including the above-mentioned contracts, bringing the total lending in the country to EUR 465.5 million. Previous loans supported projects in the roads (EUR 200 million) and energy (EUR 150 million) sectors.

 

Šaltinis: europa.eu
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Spain is committed to strengthening the common energy market

According to Spain's Minister of Industry, Tourism and Trade, Miguel Sebastián, currently chairing an Informal Energy Council today in Seville, the key to achieving a common EU energy market is to establish interconnections. more »

IMF to Provide US$100 Million in Emergency Assistance to Haiti

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), announced today that the Fund will provide US$100 million very rapidly in emergency financing to Haiti to assist it in dealing with the aftermath of the massive and devastating earthquake that has hit the country. more »

IMF Announces Agreement in Principle with Jamaica on a US$1.25 Billion Loan

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement on Jamaica today. more »

Korea and IMF to Co-Host a High-Level International Conference

The Government of the Republic of Korea and the International Monetary Fund (IMF) announced today that they will jointly host a high-level international conference on Asia in Seoul, South Korea, during July 12-13, 2010. more »

IMF Managing Director Dominique Strauss-Kahn to Visit Tokyo and Hong Kong SAR

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), will travel to Tokyo and Hong Kong SAR, January 18−20, 2010. more »

Ten winners of Danske Bankas scholarships for the 2009–2010 academic year determined

After lots were drawn, ten winners of Danske Bankas scholarships and one winner of an iPod shuffle player were established. more »

Regarding convocation of extraordinary general meeting of shareholders

The Meeting is convened on the initiative and by the resolution of the Management Board of the Bank. more »

The ministers are examining “Europe 2020”, the future agenda for economic and employment recovery

Today, Thursday, on the second and last day of their informal meeting in La Granja (Segovia), the ministers responsible for European Affairs will study the challenge of how to boost reflation through sustainable growth that generates new employment. more »

On the job front

How well-equipped are European companies to meet the challenges of global competition and the recent recession? The 2009 European Company Survey provides some clues. more »

Commission approves public support for Vaasa regional airport in Finland

The European Commission decided today not to raise any objections to Finland's plan to support infrastructure investments in Vaasa regional airport. more »