Sayenko Kharenko has acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing EUR 35 million finance package to the city of Kharkiv to help tackle the impact of the ongoing war.
The finance package includes a EUR 25 million loan extended by EBRD under a partial guarantee from Spain along with a EUR 10 million grant component contributed by the government of the United States of America.
The emergency funds will be used to support Kharkiv’s key municipal utilities and public transport operators by addressing their critical liquidity needs to ensure the uninterrupted provision of essential public services amidst the ongoing war.
Kharkiv is Ukraine’s second largest city, with a current population of approximately 1.2 million people, including 140,000 internally displaced who moved to Kharkiv after the war started.
EBRD is the largest international financial investor in Ukraine. EBRD has deployed EUR 5 billion available for Ukraine since 2022 focusing on supporting energy security, vital infrastructure, food security, trade and the private sector, alongside key policy reforms. The EBRD’s Board of Governors approved in 2023 a capital increase of EUR 4 billion to support investment both in wartime and reconstruction.
Sayenko Kharenko’s team included Igor Lozenko, Oles Trachuk and Polina Savinska.