"On December 27, Kherson Mayor Volodymyr Mykolayenko and First Deputy Mayor Ihor Kozakov held a meeting with Deputy Head of the European Bank of Reconstruction and Development Ms Marina Petrov. The meeting resulted in the signing of an agreement on the preparation of loan financing between Kherson City Council, the Khersonelectrotrans municipal company and the European Bank for Reconstruction and Development," the press service of Kherson City Council reported.
The agreement is aimed at "implementing a project to invest in improving the public transport infrastructure of Kherson by purchasing new trolleybuses and repair and diagnostic equipment."
The agreement envisages the provision of long-term financing in the amount of up to EUR 10 million. The terms and conditions of financing will be determined after the assessment.
The draft agreement is expected to be developed by the end of April 2019, after which it will be approved at the session of Kherson City Council and at the meeting of the EBRD Credit Committee. The agreement has to be approved by the Finance Ministry and the Antimonopoly Committee.
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