Oschadbank will provide Lviv with funding amounting to 840 million UAH.

The Lviv City Council has entered into a loan agreement with JSC "State Savings Bank of Ukraine" for an amount of 840 million UAH to finance the city's development budget expenditures. The funds from this loan will be targeted specifically for the implementation of five projects: the construction of an alternative bridge on Kovcha Street, the establishment of two centers for veterans, the reconstruction of the power supply system of the "Northern" shopping center (Tets-2), and the completion of the waste processing plant construction.

This was reported by the press service of the Lviv City Council.

Viktoriya Dovzhyk, the director of the financial policy department, explained that in September this year, the city council session approved the receipt of this loan. A competition was held among state banks, and Oschadbank offered the best conditions.

A significant portion of the borrowed funds (718 million UAH) will be directed towards the completion of the waste processing plant. Construction work there is 70% complete.

Additionally, 46.2 million UAH will be allocated for the construction of an overpass at the intersection of T. Shevchenko Street and O. Kovcha Street. The emergency bridge on O. Kovcha Street is under the jurisdiction of "Ukrzaliznytsia" and facilitates transportation for residents of the Ryasne microdistrict to Lviv, as well as transit connections to the European border.

"However, the condition of the bridge deteriorates each year. To repair it while maintaining transportation connections, a new duplicate bridge needs to be constructed. A project has already been developed for the construction of a new duplicate overpass adjacent to the existing one. Building the new bridge will allow for the existing one to be closed for repairs and subsequently organize a circular traffic route in this direction," says Viktoriya Dovzhyk.

The loan funds will also be allocated for the establishment of two centers for veterans and the reconstruction of the power supply system of the "Northern" shopping center (Tets-2).

The agreement with Oschadbank was signed at the city hall yesterday, and they have already received the first tranche. It was crucial for the city to receive these funds in tranches, meaning that money would be drawn when there is a need at the enterprises/divisions implementing the respective projects.

Background. Previously, Mind reported that the state Oschadbank extended the validity of all payment cards, including those for internally displaced persons, until December 31, 2023.