Signing of Loan and Grant Agreement in the City of Lviv

The Loan Agreement between EBRD and Lviv Vodokanal was signed on 29th January 2016 in Lviv, at the same time the E5P Grant Agreement was signed between EBRD in its capacity as Fund Manager to E5P, Lviv Vodokanal and Lviv City Council. The project includes an overall loan amount of EUR 20 million, whereof the EBRD of EUR 15 million and NEFCO of EUR 5 million, and an E5P grant of EUR 7.5 million. The E5P grant was approved at the E5P Assembly of Contributors on 7 December 2015, the grant will co-finance the overall project in order to achieve significant energy savings through use of biogas produced, improve sustainability of the operations, achieve reductions in GHG, reduce volume of sludge and improve quality of wastewater going through Poland to the Baltic Sea basin, the CO2 savings alone is expected to be appr 130 000 tonnes per year. The signing ceremony was attended by representatives from Ministry of Economic Development and Trade some of the main contributors to E5P including European Union, Denmark and Poland and IFIs.

Please see below the EBRD press release and selected articles of the broad media coverage in connection with the project signing.