EBRD to Lend $10 Million for Ukrainian Municipal Energy Project

The European Bank for Reconstruction and Development will lend 10 million euros ($13 million) to a Ukrainian municipal heating company to help improve energy efficiency and reduce greenhouse gas emissions.

The company, based in Ternopil, western Ukraine, will get an additional 5 million euros from Eastern Europe Energy Efficiency and Environment Partnership, the London-based bank said in an e-mailed statement today.

The 13-year loan has an interest rate of 5.9 percent, Ternopil Mayor Serhiy Nadal told reporters in Kiev today.

The EBRD has provided more than $10 billion of financing in Ukraine as of August, becoming the biggest investor in the country, the bank said.

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