Cygnum Capital has been proud to advise the contractor consortium on this landmark deal announced during the Ukraine Recovery Conference in London on 21-22 June. This is the first ever UK Export Finance-guaranteed financing in Ukraine, and one of the first commercial bank financings delivered to support the reconstruction of Ukraine.
The UK’s export credit agency, UK Export Finance (UKEF), has agreed to issue a buyer credit loan guarantee worth £26.3m that allows the Ukrainian government to to start rebuilding six bridges near Kyiv. The guarantee lets Ukraine access financing from Citi, thereby unlocking funds for Kyiv Oblast’s Road Service to reopen supply routes. The support was announced during the Ukraine Recovery Conference in London on 21-22 June.
Ukrainian finance minister Sergii Marchenko said: “Russia’s war against Ukraine has caused enormous damage to Ukraine’s infrastructure. The UK Government’s financial support for restoring these bridges is a significant contribution to the Ukrainian government’s recovery efforts.
“It will help to accelerate trade turnover, thereby creating better conditions for business development since Kyiv serves as the nation’s important logistics hub. It moreover fosters a conducive environment for Ukrainians to return home to, which is vital for the sustained operation of the country’s economy and its further recovery.”
