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AVELLUM
acted as the Ukrainian legal counsel to the European Bank for Reconstruction
and Development (“EBRD”) in connection with a long term senior
secured loan to Limited Liability Company “Zunami” (“Zunami”)
in the total amount of up to EUR3 million.
The EBRD
is contributing to sustainable forest management in Ukraine by supporting a
major domestic wood processing company Zunami with the introduction of new waste
management techniques aimed at reducing wood waste by 23 per cent or 3,000
tonnes per year.
This loan
will be complemented by grant funding of up to EUR70,000 from the European
Union under its EU4Business programme, and USD170,280 incentive grant, funded
by the Global Environment Facility under FINTECC programme, designed to
transfer technology in the area of climate change mitigation and adaptation.
The EBRD
is the largest international financial investor in Ukraine. Since the start of
its operations in the country in 1993, the EBRD has made a cumulative
commitment of almost EUR13.3 billion across some 423 projects in Ukraine.
Zunami is
a Ukraine’s leading producer of finished wooden floors and is engaged in a full
cycle of wood processing.
The AVELLUM team was led by senior partner
Glib Bondar with support from counsel Maria Tsabal and associates Oleg
Krainskyi and Anna Kalabska.