EBRD and EU support Ukrainian city of Lviv
The European Bank for Reconstruction and Development (EBRD) on 14 May announced a senior loan of up to €10 million to the city of Lviv in western Ukraine to help ensure the provision of vital municipal services and to mitigate the effects of the ongoing war.
The European Union is supporting the EBRD’s loan by providing 25 per cent first loss risk cover under its Municipal, Infrastructure and Industrial Resilience Programme (established as part of its Ukraine Investment Framework) to address war-related risks.
The programme aims to provide emergency assistance and support for future recovery efforts in various sectors (including industry, energy and municipal infrastructure). As part of the programme, the EU will provide, through the EBRD, guarantees totalling €150 million, investment grants worth €25 million and technical assistance worth €7.5 million.
Lviv is the seventh largest city in Ukraine, with around 1 million people living in the wider Lviv agglomeration. From February 2022, Lviv became a natural destination for internally displaced people.
The EBRD’s loan will provide liquidity to key municipal operators such as transport company Lvivelectrotrans, waste management operator Zelene Misto and water operator Lvivvodokanal. The emergency funds will help them address their critical liquidity needs and ensure the uninterrupted provision of essential public services.
The EBRD will also provide technical support to the Lviv Veterans Centre, which provides legal, educational and administrative services to veterans and their families.
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