Kyiv, Ukraine, 02 November 2022:
- The Kyiv office of Baker McKenzie advised IFC, a member of the World Bank Group, on channeling up to EUR 25 million of the EU funds in grants across Ukrainian cities to help renovate municipal buildings for internally displaced people (IDP), creating jobs and driving economic recovery. The project, implemented by IFC in partnership with the EU, will pilot in Lviv, the largest city in western Ukraine, which has offered shelter to nearly 245,000 IDPs as of September 2022.
- The project aims to help Ukraine provide secure and quality temporary accommodation to people who had to flee the war-affected areas in eastern and southern Ukraine.
The Baker McKenzie team working on the project was led by Managing Partner and Head of the Banking and Finance practice group of the Kyiv office Serhiy Chorny and Associate Bogdan Dyakovych, with significant input from Junior Attorneys Polina Korotka and Maria Gorokh. The team advised IFC on the legal structuring of the grant funding arrangement and developing the underlying legal documentation.
Commenting on the project, Serhiy Chorny said:
"We are pleased to assist IFC, our long-standing client, with this important project aimed at providing vital assistance to people in need, particularly in these critical times. We trust this project, together with other initiatives and support provided by Ukraine's allies, international organizations and businesses, will help Ukraine and its people to get through this challenging period and later rebuild itself as a democratic, independent and prosperous country."
