RLF - Kryvyi Rih Emergency Liquidity

repaying

A senior loan of up to EUR 12 million, to provide emergency liquidity support to the City of Kryvyi Rih (the "City") and its key municipal utilities and public transport operators (the "Recipients"), to mitigate the effect of the ongoing war on the City's financial position (the "Project"). Kryvyi Rih and its municipal operators have been under significant pressure to maintain municipal services while facing financial constraints due to temporary revenue losses/additional operating expenses caused by the war and refugee crisis. The expected recipients of liquidity support from the City are: (i) the Communal Enterprise "Miskyi Troleybus", existing client of the Bank under UPTF - Kryvyi Rih Trolleybus (OP ID 48988), (ii) the Communal Enterprise "Shvydkisnyi Tramvay", (iii) Communal Enterprise "Kryvbasvodokanal" and (iv) Communal Enterprise "Kryvorizhteplomerezha". Given war-related risks, the loan will benefit from a guarantee from Spain, which will cover 40% of the proposed loan and will be structured on a pari pasu basis.