On 16 August 2020, the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine on Simplification of Attraction of Investments and Introduction of New Financial Instruments” No.738-IX dated 19 June 2020 (the “Law”) entered into force, introducing, inter alia, green bonds in Ukraine and establishing respective regulation for market players.
In particular, the Law provides:
- Concept of green bonds and environmental projects;
- Definition of specific areas to which funds raised through the issuance of green bonds can be directed;
- Issuers of green bonds;
- Principles for disclosure of information by the issuers;
- Reporting requirements for the issuers; and
- Use of raised funds for financing and/or refinancing of environmental projects.
For further information please contact Dmytro Ivanusa, Partner and Tetyana Rys, Associate.