The EBRD is to give $28 million credit to Ukrrechflot (Ukrainian Inland Water Tarnsport). The funds will be spent on purchasing of five ships constructed by Nikolaev Damen Shipyards Ocean. About $15 million out of total sum will be given as syndicated credit of Bank of Scotland.

According to Ukrrechflot President Pavel Podlesny, the credits given by the EBRD in the course of last 12 years helped to repair the river flotilla. Moreover, the EBRD contributed much by implementing high standards of the corporate management. “It is the key element of long-termed strategy of our development. We expect the EBRD to continue cooperation with us,” stated Podlesny.

Ukrrechflot is one of the oldest partners of the European Bank for Reconstruction and Development. Since 1993 EBRD has invested over ?1.9 billion in more than 70 projects.


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