It is noted that the relevant project was approved by the bank's board of directors last week.
The European Bank for Reconstruction and Development noted that the loan will be divided into 2 levels of tranches and aimed at ensuring sustainable and efficient operation of existing thermal power plants and boilers in Kyiv.
The bank believes that the loan will help increase the reliability of heat transportation, solve other critical problems in the rehabilitation and modernization of the city's district heating system, as well as improve the quality of heating and hot water supply services.
The EBRD added that the project is part of the Green City Framework-2 (GrCF2, Concept of Green Cities), aimed at solving environmental problems in some large cities.
The Kyiv city council approved the loan for up to 13 years in April this year, authorizing mayor Vitali Klitschko to sign a guarantee agreement with the EBRD.
Kyivteploenerho announced its intention to attract an EBRD loan with a three-year grace period in 2019.
