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CMS advises the European Investment Bank on €50mn financing for Ukraine’s high-tech hub
CMS, Kyiv, Ukraine,
July 03, Fri, 2020
CMS Cameron McKenna Nabarro Olswang in Kyiv has advised the European Investment Bank (EIB) in relation to a €50 million loan to Ukraine’s first vertically integrated innovation park UNIT.City. The EIB loan will be used to finance the Ukrainian Innovation Campus Project, a state-of-the-art technology campus in Kyiv, and will cover the design, renovation and construction of new, tailored facilities and structures in UNIT.City.
The Ukrainian Innovation Campus Project will be supported by InnovFin Science, a joint initiative from the EU Commission and the EIB that promotes research and innovation investments by public and private bodies. It will contribute to creating one of the biggest hubs merging dedicated infrastructure with an innovation ecosystem for IT and technology companies in Central and Eastern Europe.
The project is also aimed at bringing together start-ups and IT training, high technology companies and R&D centres, incubators and accelerators within a 25ha inner-city site. The facility will include a non-profit IT education academy and multifunctional office space for technology-driven companies. The project is expected to be completed by 2023.
Ihor Olekhov, Head of the Banking and Finance practice of CMS Cameron McKenna Nabarro Olswang in Kyiv comments: “We are pleased to have assisted the EIB on its significant investment in a landmark IT project that will help Ukraine and more specifically the Kyiv urban area to develop a technologically-advanced ecosystem for R&D and IT companies across the board, from start-ups to thriving high-tech companies. We will continue to support EIB where required to bring this project to a resounding success.”
CMS team advising EIB included Ihor Olekhov (Partner), Kateryna Chechulina (Counsel) and Khrystyna Korpan (Associate) in the Banking & Finance team.
For further information, please contact:
Darina Gordienko, Senior Business Development Executive
T: +38 044 391 3377
NOTES TO EDITORS
CMS provides clients with specialist, business focused advice in law and tax matters. With our 4,500 legal professionals across the world, working in sector-based teams and expert in project management, our focus is on our clients and fulfilling their objectives.
CMS is a full-service top 10 global law firm, based on the number of lawyers (Am Law 2018 Global 100). With 70+ offices in 40+ countries across the world, revenues totalled €1.36bn in 2018. CMS acts for the majority of the DAX 30, a large number of the FT European 500 and a number of Fortune 500 companies.
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For more information, please visit www.cms.law
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