Avellum has advised the Ministry of Finance of Ukraine on three loans provided under the G7 Extraordinary Revenue Acceleration Loans for Ukraine initiative, including a GBP 2.26 billion loan from the United Kingdom, a CAD 5 billion loan from Canada, and a JPY 471.9 billion loan from Japan. Hogan Lovells reportedly advised the United Kingdom. Sayenko Kharenko, working with Borden Ladner Gervais, advised Canada.
According to Avellum, together with previously announced support, including the USD 20 billion U.S. Treasury loan and EU Macro-Financial Assistance, these commitments bring total backing under the ERA initiative to nearly USD 50 billion. The loans are to be repaid from windfall proceeds generated by immobilized Russian sovereign assets via the EU-established Ukraine Loan Cooperation Mechanism.
Moreover, according to the firm, the proceeds will address Ukraine’s immediate needs: the UK loan will directly support defence procurement; the Canada loan will bolster the economy and essential budget requirements; and the Japan loan, channeled through the World Bank’s Facilitation of Resources to Invest in Strengthening Ukraine Financial Intermediary Fund, will support budget needs and the development and rebuilding of critical infrastructure.
The Avellum team included Senior Partner Glib Bondar, Managing Associate Mariana Pylypenko, and Associates Andrii Kroshko, Elina Kryhan, and Nikita Tipikin Holovko.
The Sayenko Kharenko team included Partner Igor Lozenko, Senior Associate Oles Trachuk, Junior Associate Artem Medvetskyi, and Paralegal Polina Savinska.
