Ukrrichflot

complete

Long-term syndicated debt facility to finance the acquisition of seven new general cargo vessels from Romania. The project aims to finance the acquisition of seven new general cargo vessels to support the modernisation of Ukrrichflot’s fleet. The project is expected to facilitate Ukrainian exports and inter-regional trade. Ukrrichflot is a major Ukrainian shipping company operating in the river-sea and short-sea markets carrying dry cargoes. Long-term syndicated debt facility of US$ 17.12 million (€18.35 million). US$ 45.60 million (€48.87million). The project was screened B/0, requiring an environmental analysis. For the existing facility, an environmental report was prepared following an audit of the six collateral ships mortgaged to the EBRD. The report confirmed the company’s compliance with national requirements and international conventions, and the audit confirmed that the collateral ships complied with the requirements of class. Subsequent annual environmental reports have confirmed the company’s continuing compliance with national and international requirements. For the new facility, the Bank will, as previously, require independent confirmation that the collateral vessels offered meet national and international requirements for environment, health and safety. The company will continue to submit annual environmental reports to the EBRD. None.