Kyivteploenergo will receive a loan from the EBRD in the amount of EUR140 million

The European Bank for Reconstruction and Development (EBRD) will provide the utility company Kyivteploenergo with a loan of EUR140 million for the development of the thermal infrastructure of the capital, the bank's board of directors approved the project last week, Interfax-Ukraine reports.

The EBRD noted that the loan will be divided into two equal tranches and aimed at ensuring the stable and efficient operation of existing combined heat and power plants (CHPP) and boiler houses in Kyiv, increasing the reliability of heat transportation, solving other critical tasks for the rehabilitation and modernization of the city's district heating system, improving the quality heating and hot water supply services and improving production and financial performance and capabilities of the utility company.

The bank clarified that the project is part of the Green City Framework-2 (GrCF2), aimed at solving environmental problems in selected large cities.

The Kyiv City Council approved the attraction of this loan for up to 13 years in April this year, authorizing the mayor of the city, Vitali Klitschko, to sign a guarantee agreement with the EBRD

Kyivteploenergo, owned by Kyiv, is the operator of the city's district heating system, consisting of two large gas CHPPs, 15 large, 168 small and medium boiler houses, 2,800 km of heating networks, more than 9,400 heat points and the Energy incineration plant.