Sayenko Kharenko has acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing EUR 25 million hryvnia equivalent loan to Ukrgasbank.

Ukrgasbank will on-lend the proceeds of the loan to local small and medium-sized companies to upgrade their processes and equipment and to advance sound health and safety practices. At least 70 per cent of the loan will finance investments in green technologies.

EBRD is the largest international financial investor in Ukraine. EBRD has made a cumulative commitment of almost EUR 14.8 billion across 499 projects since the start of its operations in the country in 1993.

Ukrgasbank is the fourth-largest bank in Ukraine by assets, with a 7 per cent market share. It currently leads the financing of clean energy facilities in Ukraine.

Sayenko Kharenko’s team was led by partner Igor Lozenko and included associate Denis Nakonechnyi and junior associate Oleksandr Motin.