UNIT.City will receive EUR 50 million for the construction of 4 new campuses

02.07.2020

The European Investment Bank (EIB) will provide a loan of EUR 50 million to the Ukrainian innovative park UNIT.City. The money will be spent on the renovation of old and construction of new premises at UNIT.City.

“The credit line from the EIB will allow us to accelerate the development of UNIT.City in Kyiv. This is an important signal for the market, evidence that we are on the right track and have the support of European institutions”, – commented Vasiliy Khmelnitsky, founder of the holding company UFuture (which includes UNIT.City).

Financing Details

Financing is provided by the European Commission and EIB initiative InnovFin Science within the framework of the research and innovation program Horizon 2020.

InnovFin Science provides loans and promotional financing for research institutes, universities and research organizations. In this way, the EU is improving access to funding for research and innovation projects for public and private organizations.

Financing is provided directly by the EIB and provides for up to 10 tranches of at least EUR 5 million each. The borrower will be UNIT HOLDINGS LLC, created by the UFuture Group. Everlegal acted as the legal partner of the transaction; Ukrgasbank became the financial partner.

What will they spend money on

Funding was attracted to the project “Innovative Campus for Ukraine”, which, according to the idea of investors, will make UNIT.City one of the largest innovative and IT hubs in Central and Eastern Europe. It will create 549 permanent and 2,400 temporary jobs, as well as indirectly support 15,000 jobs for tenants in the innovative park UNIT.City.

About half of the projected costs will be funded by the EIB. The bank’s money will go towards the construction of the new UNIT.City campuses – B15, B16, B17, U1 – with a total area of 70,000 sq. m.