CMS advises EBRD on supporting renovation of public transport in Mariupol
CMS Cameron McKenna Nabarro Olswang in Kyiv is pleased to announce that our law firm has recently advised the European Bank for Reconstruction and Development (EBRD) on a €13 million loan to the communal enterprise Mariupolske Tramvaino-Troleybusne Upravlinnya (MTTU). The EBRD’s investment will be used for the acquisition of up to 72 low-floor trolleybuses for the city of Mariupol, spare parts and maintenance equipment as well as upgrading the trolleybus depot and the reconstruction of the catenary network. As an integral part of the project, which is implemented under the Ukraine Public Transport Framework, approved by the EBRD in 2015, the improvement of quality and efficiency of municipal transport will be achieved by reducing the trolleybus fleet’s energy consumption and connecting currently isolated districts to the existing trolleybus network.
We acted as English and Ukrainian law counsel to the EBRD. The CMS team was led by Simon Dayes, English qualified banking & finance partner, and senior associate Vyacheslav Ovechkin.
Commenting on the cooperation with the EBRD, Vyacheslav Ovechkin said: “We are very pleased to support the EBRD in providing financings aimed at improvement of public transportation in Ukraine.”
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