Mykolaiv repaid EUR 266 thousand on international loans

The Mykolaiv community has repaid part of the loan funds provided by international institutions. In total, 266 thousand euros were returned.

This is evidenced by the draft city budget for 2025.

With the support of international financial institutions, Mykolaiv City Council has implemented two large-scale infrastructure projects.

As part of cooperation with the Nordic Environment Finance Corporation(NEFCO), Mykolaiv received a loan of 500 thousand euros for a period of 7 years to reconstruct the city's heating networks. The funds will help the city to upgrade its outdated heating system.

As of October 2024, more than EUR 266 thousand has already been repaid. The loan repayment will last until December 2026.

Another project concerns the renewal of Mykolaiv's bus fleet. Thanks to an agreement between the Ministry of Finance of Ukraine, the Ministry of Infrastructure of Ukraine, and the city council, EUR 4.5 million was provided for the purchase of modern buses. The loan was signed for 9 years with a flexible interest rate.

The project is aimed at improving the public transport infrastructure, which will increase the comfort and accessibility of transportation for the citizens. Loan payments, including principal and interest, are made every six months. As of October 1, 2024, the loan funds have not yet been utilized.

The grant agreement also provides for the Danish fund to finance 40% of the loan amount for the purchase of five new sweepers. The total amount of the loan is UAH 43 million, but it can be reduced after public bidding.

In September, Mykolaiv's road department planned to attract a 70 million bank loan. Thus, a competitive selection of banks was to be organized as part of the state program"Affordable Loans 5-7-9%". The loan is to be used for the needs of the municipal enterprise "Operational Linear Road Management".

Анна Бальчінос