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EBRD to grant 20 mln USD loan to Odesa-based Black Sea Shipping Management Co Ltd

Posted by the Editor on September 29, 2006


News / 29 September 2006 | 15:19

EBRD to grant 20 mln USD loan to Odesa-based Black Sea Shipping Management Co Ltd

EBRD to grant 20 mln USD loan to Odesa-based Black Sea Shipping Management Co Ltd

According to EBRD Representation sources in Kyiv, the European Bank for Reconstruction and Development will grant to 20 mln USD loan to the Odesa-based Black Sea Shipping Management Co Ltd (BSSM), of which sum 10 mln USD will be granted as a syndicated credit from the Bank of Scotland, Cabinet’s press office reported.

The loan will be used to finance projects for constructing five 5,500-ton freighters.

According to EBRD expert Riccardo Puliti, the loan correspondents to the EBRD’s strategy for supporting Ukraine’s transportation sector.

The loan will allow the BSSM to enhance its standards of marine cargo carriage.

As of this day and date, the EBRD has invested over 400 M. euros in Ukraine’s transportation sector.

The EBRD’s total investments in the Ukrainian economy exceed 2.4 bn. euros.

ForUm

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