AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with a landmark defence loan, guaranteed by UK Export Finance (UKEF). The loan will be used to finance the purchase, modernisation, and maintenance of two Sandown-class mine counter measures vessels for the Ministry of Defence of Ukraine.
The loan was provided under the UK-Ukraine Framework Agreement on Official Credit Support for the Development of the Capabilities of the Ukrainian Navy. This Agreement anticipates further cooperation between the two countries, including UK consultancy and technical support for the building of naval infrastructure for the Ukrainian Navy.
Glib Bondar, Senior Partner at AVELLUM, commented, “This is an important transaction and a strong signal of solidarity with Ukraine. This financing will provide essential resources for the development of the Ukrainian Navy bolstering its ability to uphold maritime security in the Black Sea. We had a pleasure to work side-by-side with very professional teams of the Ministry of Finance of Ukraine and UKEF, as well as all involved legal counsels.”
Senior Partner Glib Bondar led the AVELLUM team with significant support from associates Yaroslav Pavliuk, Andrii Kroshko, Olha Harhola, and Inna Hontaruk.
