Asters acted as a Ukrainian law counsel to International Finance Corporation (IFC), a member of the World Bank Group, in connection with up to EUR 35 million financing to the City of Zaporizhzhia. 

To support the city's efforts to improve the quality of life for its citizens, IFC's investment will help the municipality rehabilitate up to 2 kms of roads, purchase modern battery-electric trolleybuses and electric buses, and upgrade the electric transport infrastructure. It will also support the installation of message boards featuring information on traffic conditions that will minimize travel time. IFC will also help install municipal smart city infrastructure to optimize traffic management and enable real-time monitoring of heat and water pipe pressure. The investment consists of EUR 33 million of IFC own-account financing and EUR 2 million in blended finance through the Clean Technology Fund.

Asters’ banking and finance team advising on the project consisted of partner Iryna Pokanay, counsel Gabriel Aslanian and associates Inna Bondarenko and Viktoria Zagreba.

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Asters is the largest law firm in Ukraine with offices in Kyiv, Washington D.C., Brussels and London. Chambers Europe 2021 recognizes 23 lawyers of Asters – the largest number of the renowned practitioners in a single Ukrainian law firm.

For more information about IFC, please visit: www.ifc.org