Asters advises the Black Sea Trade and Development Bank on financing for the construction of Novotel hotel in Ukraine

Asters acted as a legal counsel to the Black Sea Trade and Development Bank in connection with its up to EUR 8 mln financing to LLC "Real Estate Development Centre" for the construction of a four-star hotel in Lviv, Ukraine.

The loan will be used for the construction, equipping and commissioning of a 128-room hotel under the 'Novotel' brand, an international mid-range brand for business and leisure travellers.

Asters' Partner Iryna Pokanay comments: "This case proves that international financial institutions consider Ukraine as an investment destination even during wartime. The construction of the hotel should develop the tourism infrastructure and give additional working places in the region."

Asters’ team advising on the project consisted of Partner Iryna Pokanay, Counsels Gabriel Aslanian, Anzhelika Livitska and Senior Associate Inna Bondarenko.

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The Black Sea Trade and Development Bank (BSTDB) is an international financial institution with authorized capital of EUR 3.45 bln. It supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private companies and public entities in 11 member countries.

Asters is the largest law firm in Ukraine with offices in Kyiv, Washington D.C., Brussels and London. Chambers Europe 2022 recognizes 21 lawyers of Asters – the largest number of the renowned practitioners in a single Ukrainian law firm.