RLF - Ternopil Trolleybus Project

signed

A senior loan of up to €10 million loan to Communal Enterprise "Ternopilelectrotrans" (the "Company") to finance the acquisition of new trolleybuses along with essential maintenance and diagnostic equipment and the modernisation of a traction substation. The EBRD loan is part of a broader financial package, which also includes €1 million co-financing from the City, as well as €4 million investment grant from Canada provided through the High Impact Partnership on Climate Action ("HIPCA"). Given war-triggered risks related to vulnerability of the energy infrastructure, which remains a primary target of Russian missile attacks across Ukraine, the loan will benefit from a partial guarantee provided by the Government of Spain on a pari passu basis.