KYIV, Sept 27 - The European Bank for Reconstruction and Development (EBRD) has approved a EUR 50 million loan to Kyivteploenergo for critical needs related to heating systems on Wednesday, September 25. According to a statement on the bank's website, the total project cost is EUR 55 million, with EUR 5 million provided as a grant by the EBRD Crisis Response Special Fund.

"The bank's loan will support the key municipal utility by addressing its critical liquidity needs, to ensure uninterrupted provision of essential public services to the City's residents and businesses, despite the direct damages from the war and additional demand for district heating services driven by the presence of significant number of IDPs," the EBRD said in the project description.