The European Bank for Reconstruction and Development (EBRD) has approved a EUR15 million senior loan for Kharkiv to restore its centralized heating system, backed by a EUR17 million grant from the European Union, the bank announced on its website.
“The loan is part of a broader financing package that also includes a EUR17 million investment grant from the European Union. Given the risks posed by the war, the loan will also receive a partial guarantee from the EU based on first-loss coverage,” the statement said, noting that the project is awaiting final approval.
The loan and EU grant funds will finance the purchase of up to 22 small and medium-sized modular natural gas-fired boiler plants, along with cogeneration units, as well as five small cogeneration units in existing boiler plants.
The project’s implementation will restore centralized heat supply services, which were interrupted in February 2026 following critical damage to Kharkiv Combined Heat and Power Plant No. 5. The total annual reduction in greenhouse gas emissions from the project is estimated at 19,091 metric tons of CO2-eq.
CHP-5, EBRD, EU, heat supply, KHARKIV
Norway is allocating over €9 million to repair the protective sarcophagus covering the Chernobyl Nuclear Power Plant following damage caused by a Russian drone, the Norwegian Embassy in Ukraine reported.
“Norway is allocating 100 million kroner (approximately 9.1 million euros – IF-U) for the repair of the protective structure covering the No. 4 reactor at the decommissioned nuclear power plant in Chernobyl. The structure was damaged as a result of a Russian drone strike in February 2025.”
The aid will be provided through the European Bank for Reconstruction and Development (EBRD) fund, the International Chornobyl Cooperation Account (ICCA).
State Secretary Eivind Vad Petersen announced the support during a visit to Kyiv, also mentioning the incident on June 7, when a spent nuclear fuel storage facility in the Chernobyl zone was hit by a Russian strike.
“These attacks also pose a threat to European and international security. Norway will make efforts to reduce the risk of radioactive emissions and ensure that the Chernobyl NPP continues to operate safely,” Petersen said.
In April, the U.S. expressed its readiness to provide up to $100 million as part of the Group of Seven’s joint efforts to repair the new sarcophagus over the Chernobyl NPP. Ahead of the 40th anniversary of the Chernobyl accident, the EU called on Russia to stop attacks on nuclear facilities in Ukraine.
On June 12, the European Bank for Reconstruction and Development (EBRD) plans to approve a loan of up to EUR 15 million for Kharkiv to restore heat supply following critical damage in February 2026 to the city’s largest combined heat and power plant, CHPP-5.
According to the bank’s materials, the financing is planned to be used to purchase up to 22 small and medium-sized modular gas-fired boiler houses with cogeneration units, as well as five small cogeneration units for existing boiler houses.
The loan is part of a broader EUR32 million package, which also includes an investment grant from the European Union (EU) of up to EUR17 million.
Given the war risks, the EBRD loan is also expected to receive a partial EU guarantee to cover first-loss risk.
According to the EBRD’s estimates, the project will reduce greenhouse gas emissions by 19,100 metric tons of CO2 equivalent per year.
It is noted that the project is expected to restore access to basic heat supply services for a broad and vulnerable group of consumers, including 99,300 residents—more than 16,500 of whom are internally displaced persons (IDPs)—as well as 23 educational institutions and seven medical facilities.
According to the EBRD, as of early 2026, 212,000 IDPs were officially registered in Kharkiv.
The project is being implemented under the Resilience and Livelihoods Facility (RLF) program.
EBRD, EU, heat supply, KHARKIV, TPP-5
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are expanding their support program for micro, small, and medium-sized enterprises (MSMEs) and larger companies in Ukraine, which will enable the mobilization of EUR2 billion in new financing through EBRD partner banks thanks to EUR315 million in additional EU support, the financial institution announced on its website.
The additional EU support is being implemented through the Ukraine Investment Framework (UIF) program and includes EUR200 million in guarantees, EUR105 million in grants, and EUR10 million in technical assistance.
As noted in the press release, the new package is expected to provide loans to at least 3,000 MSMEs and preserve approximately 180,000 jobs.
Funds will be provided through the EBRD’s partner financial institutions in Ukraine. According to the bank’s assessment, the expansion of the program should support businesses’ access to financing amid the war, particularly against the backdrop of rising borrowing costs, disrupted logistics, and companies’ need to replace or modernize damaged equipment.
Ukrainian companies will be able to receive investment incentives in the form of EU grants to cover 10% to 30% of the cost of critical capital investments, primarily in high-efficiency and “green” technologies.
At least 50% of these grant incentives will be directed toward priority categories of MSMEs: enterprises with assets damaged or destroyed as a result of the war, businesses in frontline zones, veteran-owned companies, enterprises supporting the reintegration of internally displaced persons and people with disabilities, micro-companies, startups, small farms, as well as businesses led by women and young people.
The program also provides for support to restore activity in Ukraine’s insurance market, specifically the development of solutions for insuring military risks. As part of a pilot project, insurance subsidies are planned to be provided to MSMEs.
Part of the expanded support will be implemented through the Enterprise Security Enhancement (ESE) mechanism, which the EBRD is rolling out on a pilot basis in collaboration with partner financial institutions in Ukraine. It allows banks to reduce the debt burden for borrowers whose assets have been damaged by the war.
To implement this mechanism, it is planned to use EUR 200 million in first-loss guarantees provided by the EU as part of the new phase of the program. Such coverage of credit risk associated with the loss of assets due to the war is intended to support lending for capital investments and the continuity of economic activity.
This support builds on the first phase of the Financial Inclusion Recovery Program, which confirmed significant demand from Ukrainian businesses for financing through partner banks.
As reported, in May the EBRD launched a pilot ESE donor mechanism in Ukraine to partially write off business debt on investment loans in the event of damage to financed assets resulting from hostilities: with PrivatBank—in the amount of EUR 6.8 million, and with Raiffeisen Bank—EUR 1.2 million.
In 2025, the EBRD allocated a record EUR2.9 billion in financing to Ukraine, including EUR1.2 billion through partner financial institutions, as well as EUR504 million under portfolio risk-sharing programs, which facilitated new lending of up to EUR1.6 billion.
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are launching the “Ukrainian SME Recovery” program, which is expected to provide approximately EUR135 million in financing and advisory support for small and medium-sized enterprises, larger companies, and startups in Ukraine, the financial institution announced on its website.
EU support under the program is being implemented through the Ukraine Investment Framework (UIF) and amounts to EUR46 million, including EUR41 million in guarantees and approximately EUR5 million in technical assistance.
According to the announcement, the program provides for financing at least 15 investment projects by Ukrainian companies, as well as advisory support for up to 34 startups.
The first component of the program will be implemented through the EBRD’s Risk Sharing Framework (RSF) in collaboration with partner banks. EU guarantees will be used to cover the first-loss risks of the EBRD and partner banks on a parity basis.
According to the bank’s assessment, this will expand Ukrainian companies’ access to long-term financing, particularly for the restoration and expansion of production assets and capacity.
The second component involves expanding the EBRD’s Star Venture program in Ukraine, aimed at supporting high-potential startups and developing an innovative ecosystem.
Under this initiative, selected startups, accelerators, and venture capital firms will receive advisory support. The funding is intended to help early-stage companies cover operational and market development costs and enhance their readiness to attract commercial investment.
The EBRD is the largest institutional investor in Ukraine. Since the start of Russia’s full-scale invasion in February 2022, the bank has allocated nearly EUR10 billion to Ukraine.
Agricultural holding IMK has purchased 75 grain trucks using a loan from the European Bank for Reconstruction and Development, the company’s CEO Oleksandr Verzhikhovsky announced during a speech at the Grain Ukraine 2026 international conference on Thursday in Kyiv.
“We have strengthened our road logistics component, secured $13 million in financing from the European Bank for Reconstruction and Development, and purchased 75 grain trucks,” Verzhikhovsky said.
The head of the agricultural holding noted that starting in 2023, the company has been investing approximately $10 million annually in the modernization of equipment and production. In particular, the greatest attention is being paid to logistics.
Given that the company conducts all its exports by rail through deep-water Black Sea ports, in 2024–2025 it implemented its own project to purchase 300 grain railcars. The company’s investment in this project amounted to $22 million.
“This was the right decision, as it currently yields annual savings of about $3–4 million,” emphasized the head of the agricultural holding.
A presentation on the AMK website with data for May of this year indicates that its logistics fleet includes 129 grain trucks, 300 grain railcars, 672 units of agricultural machinery, and 326 other vehicles.
The IMK agricultural holding is an integrated group of companies operating in the Sumy, Poltava, and Chernihiv regions (northern and central Ukraine) in the crop production, grain elevators, and warehousing segments. Land bank: 115,000 hectares; storage capacity: 554,000 tons; grain and oilseed production in 2025: 838,000 tons.
IMK’s net profit in 2025 increased by 24% to $67.5 million, while consolidated revenue decreased by 10% to $190.5 million.
