AVELLUM

acted as the Ukrainian legal counsel to the European Bank for Reconstruction

and Development (“EBRD”) in connection with a long term senior

secured loan to Limited Liability Company “Zunami” (“Zunami”)

in the total amount of up to EUR3 million.

The EBRD

is contributing to sustainable forest management in Ukraine by supporting a

major domestic wood processing company Zunami with the introduction of new waste

management techniques aimed at reducing wood waste by 23 per cent or 3,000

tonnes per year.

This loan

will be complemented by grant funding of up to EUR70,000 from the European

Union under its EU4Business programme, and USD170,280 incentive grant, funded

by the Global Environment Facility under FINTECC programme, designed to

transfer technology in the area of climate change mitigation and adaptation.

The EBRD

is the largest international financial investor in Ukraine. Since the start of

its operations in the country in 1993, the EBRD has made a cumulative

commitment of almost EUR13.3 billion across some 423 projects in Ukraine.

Zunami is

a Ukraine’s leading producer of finished wooden floors and is engaged in a full

cycle of wood processing.

The AVELLUM team was led by senior partner

Glib Bondar with support from counsel Maria Tsabal and associates Oleg

Krainskyi and Anna Kalabska.