Asters acted as a Ukrainian law counsel to the International Finance Corporation (IFC), a member of the World Bank Group, on EUR 13.7 mln financing to the city of Kryvyi Rih, the largest industrial park in Ukraine with a population of nearly 630,000 people.
The investment consists of EUR 10.2 mln of IFC own-account financing and EUR 3,5 mln in blended finance through the Clean Technology Fund. The financing will be directed at upgrading the city's transport system by purchasing 15 new tramcars and updating the existing ones as well as improving the environment by developing an urban transportation plan to promote the alternative transport types.
This project is among several completed and ongoing municipal financing projects in Asters team's track record. Banking and Finance team advising on the project consisted of Partner Iryna Pokanay, Counsel Gabriel Aslanian and Associates Inna Bondarenko and Viktoria Zagreba.
Asters is the largest law firm in Ukraine with offices in Kyiv, Washington D.C., Brussels and London. Chambers Europe 2021 recognizes 23 lawyers of Asters – the largest number of the renowned practitioners in a single Ukrainian law firm.