JSC “Ukrzaliznytsia,” in collaboration with the European Bank for Reconstruction and Development (EBRD), has approved amendments to the loan agreement for the “UZ Energy” project, which will allow EUR130 million from the previously approved EUR180 million loan to be allocated to support the company’s liquidity, specifically for infrastructure restoration and ensuring the transportation of passengers and cargo.
“Funds previously earmarked for the distributed generation project can now also be used for critical repairs, infrastructure restoration, and ensuring the transportation of people and cargo,” wrote Mykola Kalashnyk, Ukraine’s Minister of Recovery, Infrastructure, and Transport, on his Telegram channel on Wednesday following a meeting with EBRD President Odile Renaud-Basso.
According to him, the ministry is working to ensure that “Ukrzaliznytsia” gains access to the relevant funds as early as the first weeks of October.
Among other things, the project to build a 200-MW gas-fired power plant is continuing thanks to grant support from the EU and the United Kingdom, while “Ukrzaliznytsia” is carrying out the construction work on its own.
The minister also noted that the meeting included discussions on additional funding for the modernization of the locomotive fleet.
According to the ministry, since the start of Russia’s full-scale invasion, 550 locomotives have been damaged, with more than 335 of them damaged this year.
“Securing resources to replace and restore them is one of our top priorities,” Kalashnik emphasized.
Separately, the Ministry of Infrastructure discussed the development of international highway corridors and investments in roads—specifically, projects the ministry is implementing jointly with the Recovery Agency.
Other topics for discussion included the development of distributed thermal power generation, backup power supplies, and the protection of critical infrastructure.
Issues related to port concessions were also addressed, particularly the preparation of relevant projects; in this context, the ministry is counting on the EBRD’s expertise in drafting these projects and attracting international operators and investors.
“I would like to thank Odile Renaud-Basso and the EBRD team for their support of Ukraine and their willingness to tailor financing to our urgent needs,” added Ukraine’s Minister of Recovery, Infrastructure, and Transport.
The European Bank for Reconstruction and Development (EBRD) is providing the city of Kyiv with a loan of 150 million euros to purchase new energy-efficient subway cars, spare parts, and maintenance and diagnostic equipment for the Kyiv Metro municipal enterprise, the bank’s press office announced on Wednesday.
The loan is backed by a partial guarantee from Spain and supplemented by grant funding from the bank’s internal resources.
“The new subway cars are expected to be up to 25% more energy-efficient than the outdated cars they will replace, ensuring a more environmentally friendly, safer, and more reliable subway service,” the statement said.
In addition to the purchase of rolling stock, the EBRD will fund an audit of the metro’s accessibility to develop an action plan for inclusive transportation throughout Kyiv, tailored to the needs of people with disabilities, veterans, elderly passengers, and parents with children. The bank will also support a three-year training program for female electric train drivers in partnership with UN Women’s “She Drives” initiative to address the labor shortage.
In total, since the start of Russia’s full-scale invasion in February 2022, the EBRD has allocated nearly 11 billion euros to support Ukraine’s real economy.
EBRD, KYIV, LOAN, METRO, TRANSPORTATION
The European Bank for Reconstruction and Development may provide EUR600 million to restore the electricity balancing market, said Ukraine’s First Deputy Prime Minister for Energy Denys Shmyhal after a meeting with EBRD President Odile Renaud-Basso.
“Ukrainian energy companies need EUR600 million in financing to revitalize the balancing market. We greatly appreciate the EBRD’s participation in this process and count on the bank’s support for this reform,” he wrote on his Telegram channel.
According to the First Deputy Prime Minister, the parties also discussed priorities for further cooperation across all areas. Currently, Ukraine, in partnership with the EBRD, is implementing 13 energy projects that cover virtually the entire energy chain—from gas production and supply to electricity generation and transmission—as well as projects in hydropower and renewable energy. The total value of the portfolio exceeds EUR3 billion.
In addition, Shmyhal and Reno-Basso coordinated further cooperation to attract new contributions for the reconstruction of the New Safe Confinement at the Chernobyl Nuclear Power Plant during the Donors’ Conference, which is scheduled to take place in Paris in November.
The European Bank for Reconstruction and Development (EBRD) is considering providing Kyiv with a loan of up to EUR 50 million to support the liquidity of the municipal utility “Kyivteploenergo” and ensure the uninterrupted provision of critical municipal services amid the war.
According to the bank’s materials, the project is scheduled to be approved on July 22, 2026.
The loan is intended to cover Kyivteploenergo’s critical liquidity needs, including operating and maintenance costs, as well as to offset temporary revenue losses and additional expenses caused by the war.
Due to war-related risks, the loan will be partially covered by a European Union (EU) guarantee for first-loss coverage under the Municipal, Infrastructure, and Industrial Resilience (MIIR) Program as part of the Investment Program for Ukraine (UIF).
The financing is intended to ensure uninterrupted heat supply to schools, kindergartens, hospitals, residential buildings, and businesses, as well as electricity generation for the city and the power grid.
The EBRD notes that the additional strain on Kyiv’s district heating system is linked, in particular, to the significant number of internally displaced persons.
The project is part of the EBRD’s “Resilience and Livelihoods” (RLF) program. It is also intended to support the development and expansion of municipal services for veterans and their families.
As previously reported, in June, Kyiv Mayor Vitali Klitschko stated that the Kyiv City Council must approve a EUR50 million EBRD loan for “Kyivteploenergo” to implement measures under the Capital’s Resilience Plan. He estimated the cost of Kyiv’s priority energy resilience measures at approximately 30 billion hryvnia.
The European Bank for Reconstruction and Development (EBRD) is considering providing a loan of up to 34 million euros to the municipal utility “Rivneoblvodokanal” for the construction of new wastewater treatment facilities with a capacity of 60,000 cubic meters per day, the reconstruction of three sewage pumping stations, and the implementation of energy-efficient technologies.
According to the bank’s materials, the project is scheduled to be approved on July 22, 2026, and its total cost is estimated at 53.1 million euros.
The loan is to be disbursed in two tranches. It will be supplemented by an investment grant of up to 10 million euros from the Eastern European Partnership for Energy Efficiency and the Environment (E5P) Fund.
Repayment of the loan is fully guaranteed by the Rivne region, and 25% of the loan amount will be covered by a European Union (EU) guarantee under the Municipal, Infrastructure, and Industrial Resilience Program (MIIR) as part of the Investment Program for Ukraine (UIF).
The funds will also be used to install energy-efficient equipment and SCADA automated control systems at Rivneoblvokanal facilities.
The project aims to improve wastewater collection and treatment for approximately 240,000 residents of Rivne and surrounding areas, including internally displaced persons.
According to EBRD estimates, the new treatment facilities will treat 22 million cubic meters of wastewater per year in accordance with EU standards. The project is expected to reduce greenhouse gas emissions by 50% and net energy consumption by 45%.
The project is part of the EBRD’s “Resilience and Livelihoods” (RLF) program, which aims to restore and enhance the resilience of Ukraine’s critical infrastructure. It also includes training company staff to operate the new equipment and establishing a dedicated project implementation team.
As previously reported, in February 2026, the EBRD approved a 12 million euro loan for Rivne to finance the energy-efficient modernization of at least 24 social infrastructure facilities. The project, with a total cost of 19 million euros, also includes a 6 million euro grant from the E5P program and 1 million euros in co-financing from the city.
Raiffeisen Bank has granted the “Pan Kurchak” group a 350 million hryvnia loan to rebuild a factory destroyed by a fire in 2024; 50% of the loan risk is covered by a guarantee from the European Bank for Reconstruction and Development (EBRD) under the Extended Guarantee of the RSF Ukraine Investment Facility.
According to a correspondent for the “Interfax-Ukraine” news agency, the relevant documents were signed on the sidelines of the URC 2026 Conference on Ukraine’s Recovery, which took place in Gdańsk on June 25–26.
According to the report, the loan will be used to reconstruct the plant and install modern, energy-efficient equipment. The project is expected to strengthen the company’s position in the domestic market and enhance its operational resilience.
This is the first project to benefit from the new RSF Extended Guarantee.
As previously reported, the “Pan Kurchak” agro-industrial group was founded in 2001. It is engaged in crop cultivation, the production and sale of compound feed, broiler and pig breeding, and meat processing.
The agribusiness group includes “Western Agrarian Company” (which cultivates 16.7 thousand hectares), “Agrotechnika” LLC (which operates two compound feed mills, an oilseed processing plant, and four grain elevators), “Agidel” LLC (which maintains a parent flock of poultry with a production capacity of 32 million eggs and a broiler complex for 10,000 birds), VMP LLC (processes meat, produces sausage products and semi-finished meat products), Gubin Poultry Complex LLC (operates six farms with an annual capacity of 14 million head of poultry). All of the group’s production facilities are located in the Volyn region.
“Pan Kurchak” also operates a chain of branded stores called “M’yasna Tochka” and “Smarty” (Ukrainian Retail Networks LLC).
According to the Unified State Register of Legal Entities and Individual Entrepreneurs, the group is owned by Serhiy and Ivanna Martyniak.
