Kyiv, Ukraine, 19 December 2022:
- The Kyiv office of Baker McKenzie advised International Finance Corporation (IFC), a member of the World Bank Group, on channeling up to EUR 25 in EU funds to help homeowners' associations restore war-damaged residential buildings. This program, launched by the Energy Efficiency Fund, will support Ukrainian families amid the ongoing war and boost the resilience of Ukraine's residential sector.
- The program will pilot in Kyiv, Zhytomyr, Sumy, and Chernihiv, larger cities in northern and central Ukraine, to cover the costs of restoring multifamily buildings that did not suffer structural damage. The program will cover the replacement of windows, doors, roofs, and walls, among other elements.
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 Attorney Polina Korotka. 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 honored to assist IFC with this significant project designed to help households across Ukraine restore residential buildings destroyed by the war. By helping Ukraine these days with this and other projects, our valued client IFC makes an important contribution to rebuilding Ukraine's civil infrastructure and the economy in general."
