- A six-year loan of up to US$ 3,9 million in local currency to a Ukrainian pipe producer
- Proceeds will be used for the acquisition of new equipment
- Project to benefit from up to €200,000 EU4Business grant and up to US$ 266,000 FINTECC grant
The EBRD is extending a six-year senior secured local currency loan (equivalent US$ 3,9 million) to Energoresurs-invest Corporation, a leading provider of insulated steel pipe solutions and manufacturer of wastewater plastic pipes and drainage systems. The proceeds will be used to restructure the company’s balance sheet and acquire equipment for the production of goffered polymer pipes and large-diameter polymer vessels.
As a result Energoresurs-invest will be able to produce a wider range of polymer pipes at a lower cost to improve their competitiveness and provide turn-key solutions for the construction and installation of water heating, treatment and supply systems as well as for sewage and rainwater harvesting solutions.
The project will receive the EU funds provided under the EU4Business programme in the amount of up to €200,000 for the pre- and post-investment support. It builds on previous consultancy projects aimed at the development of a strategic plan and a web platform and also supported through the EU4Business.
The project will also benefit from up to US$ 266,000 incentive grant provided through FINTECC designed to transfer technology in the area of climate change mitigation and adaptation, which was launched in Ukraine in February 2016. It will be used for the establishment of a new large vessel production line.
The three-year FINTECC programme is supported by US$ 7 million grant funding from the Global Environment Facility (GEF) and a €4 million grant from the EU’s Neighbourhood Investment Facility (NIF).
The EBRD is the largest international financial investor in Ukraine. To date, the Bank has made a cumulative commitment of almost €12,1 billion across some 400 projects since the start of its operations in the country in 1993.
