By KYIV. Nov 24 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) has approved a $24.5 million investment to purchase up to 35% of the shares of a joint venture with Dragon Capital Investment Limited to develop Lviv Industrial Park, the bank said on Thursday.
"Equity investment for an up to 35% stake in a joint venture with Dragon Capital Investment Limited with the purpose of developing Lviv Industrial Park, a modern multi-phase multi-tenant industrial park located at the borders of the city of Lviv. EBRD’s investment in phase 1 will be up to $5.5 million. The total equity to be invested by the EBRD in the project through the JV will be up to $24.5 million (including phase 1 and future phases)," the bank said.
The total project cost is $70 million.
"The sponsor (Dragon Capital) commits to achieving at least BREEAM "Good" or an equivalent green building certification for the project and will thus address the low supply of green buildings in Ukraine," the bank added.
"The sponsor will expand access to vital services and products, which are essential to sustain livelihoods and include food, health, and emergency services by providing much needed warehouse infrastructure in Ukraine," the report says.
