The European Bank for Reconstruction and Development (EBRD) has granted another loan of up to $200 million to the Kryvyi Rih Mining and Metallurgical Plant PJSC ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk region) to replenish working capital for the plant’s operations.
According to the EBRD, a senior loan of up to $200 million has been granted to the Ukrainian joint-stock company AMKR, whose controlling stake is owned by the ArcelorMittal group.
It is specified that the loan was approved on December 3, 2025.
It is noted that the loan will be used to finance the company’s working capital needs to ensure continuity of operations in Ukraine when operations are affected by the war. The project will expand access to market-relevant training and employment opportunities for veterans and people with disabilities in line with the company’s priorities for human capital recovery.
It is also added that the Bank is providing financing in the extraordinary circumstances caused by the war in Ukraine, with a unique set of terms, attributes, and provisions. The project is also gender-additive in line with new commitments to expand access to training for young women through AMCR’s flagship New Factory initiative on youth inclusion.
As reported, on November 26, 2025, the AMCR Supervisory Board approved a significant transaction—a loan from the EBRD.
At the same time, the market value of the property or services that are the subject of the transaction is determined in accordance with the law – no more than $200 million (8480300 thousand UAH at the NBU exchange rate as of 11/26/2025); the value of the issuer’s assets, according to the latest annual financial statements, is UAH 51,725,655 thousand; The ratio of the market value of the property or services that are the subject of the transaction to the value of the issuer’s assets, according to the latest annual financial statements (in percent) – 16.3947658082%.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacities designed for an annual output of over 6 million tons of steel, more than 5 million tons of rolled products, and over 5.5 million tons of pig iron.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.
The European Bank for Reconstruction and Development (EBRD) and one of the European countries will provide Ukraine with EUR85 million for the purchase of additional gas volumes, First Deputy Prime Minister of Energy Denys Shmyhal said.
“EUR 85 million through EBRD instruments for the purchase of additional gas volumes for Ukraine. Work on obtaining the relevant grant from one of the European countries is already being completed,” Shmyhal wrote on Telegram on Tuesday.
He noted that this was discussed during an online conversation with EBRD President Odile Renaud-Basso.
“We are grateful to our partners for this! We will continue to work together to find additional sources of funding,” the head of the Ministry of Energy emphasized.
According to him, it is also extremely necessary to continue financial support from the EBRD to Ukrenergo and Ukrhydroenergo, as this helps to provide repairs, equipment, and implement new solutions so that people have light and heat.
The European Bank for Reconstruction and Development (EBRD) has signed an agreement with PJSC Ukrhydroenergo to provide a €75 million loan to finance the project “Modernization and restoration of hydroelectric power plant generation facilities,” the company said.
“The loan financing is supported by a European Union guarantee under the Ukraine Investment Framework, an instrument for mobilizing financing for Ukraine’s recovery and long-term growth,” the company said in a statement on its Telegram channel on Thursday.
According to the statement, the financing package also includes investment grants from international donors amounting to EUR 20 million.
“The estimated total cost of the project, including Ukrhydroenergo’s own contribution, is approximately EUR 120 million,” the company concluded.
According to the chairman of the supervisory board, Valentin Gvozdiy, attracting EBRD financing under the EU guarantee is an important confirmation of the confidence of international partners in Ukrhydroenergo and the quality of the company’s corporate governance.
“The project will strengthen the reliability of hydroelectric power plants and, accordingly, the stability of Ukraine’s energy system,” he said.
As noted in the statement, the project funds are planned to be used, in particular, to purchase critically needed equipment for certain hydroelectric power plants of the company, such as hydraulic power equipment damaged as a result of Russia’s military aggression, hydromechanical equipment for modernization, and equipment for responding to emergencies in conditions of martial law (emergency assistance mechanism).
As noted by Bogdan Sukhetsky, acting director general of Ukrhydroenergo, the funding will enable the timely purchase and implementation of critically needed equipment, as well as the creation of a reserve for rapid response to emergencies.
“The availability of these funds is important for maintaining the continuous operation of the enterprise and fulfilling production tasks in difficult conditions,” he stressed.
The project also includes programs to improve the qualifications of engineering personnel, enhance ESG practices, and prepare an action plan for gender equality. The project is scheduled for completion in 2030.
The European Bank for Reconstruction and Development (EBRD) is providing OTP Leasing with an unsecured loan in local currency equivalent to up to EUR 20 million to support micro, small and medium-sized enterprises (MSMEs) affected by the Russian Federation’s war against Ukraine.
“The financing will help strengthen the competitiveness, resilience, and inclusiveness of Ukrainian MSMEs by expanding access to leasing products in conditions of liquidity shortages and heightened economic uncertainty,” the bank said in a statement on Wednesday following the signing of the necessary documents.
It is noted that 50% of the loan funds are planned to be directed to MSMEs for long-term investments in technologies that meet European Union (EU) standards, in particular “green” technologies, and the financing should enable enterprises to obtain transport, equipment, and machinery without significant initial capital expenditures at a time when liquidity remains limited due to war factors.
Upon completion of the investment projects, borrowers who meet the program criteria will receive EU-funded technical assistance and US-funded investment incentives under the EU4Business initiative.
Additional grants are available for businesses that have suffered destruction, loss of assets, or forced displacement, as well as for companies that promote the reintegration of veterans, persons with disabilities, and IDPs, and for MSMEs that have relocated or operate in affected regions, with support also extending to businesses led by women and young people.
The loan will be supported by an interest rate subsidy of up to 10% from the US through the EBRD’s SME Special Fund.
According to the EBRD, the company is its current client and a leading leasing company in Ukraine, providing financial leasing and fleet management services to corporate clients and MSMEs throughout the country.
Since the start of Russia’s full-scale war against Ukraine, the EBRD has raised more than EUR 9.1 billion for Ukraine, including EUR 3.3 billion through partner financial institutions.
OTP Leasing is a non-bank financial institution subsidiary of Hungary’s OTP Bank, which has been working with the EBRD for many years.
In the third quarter of 2025, the company’s revenue increased by 7.3% compared to the third quarter of 2024, to UAH 1 billion 242.3 million, while net profit almost doubled, to UAH 808.0 million.
EBRD, FINANCING, LOAN, OTP LEASING, SMES
The European Bank for Reconstruction and Development (EBRD) is providing a €16 million loan to Cherkasy to finance the purchase of modern trolleybuses and the modernization of the relevant infrastructure, according to a statement on the EBRD website.
The loan, fully guaranteed by the city, will be co-financed by an investment grant of up to EUR4 million from the EBRD’s Shareholders’ Special Fund and will have partial first-loss risk coverage under the EU Investment Program for Municipal Infrastructure and Industrial Resilience (UIF MIIR).
The EBRD notes that the financing will enable Cherkasyelektrotrans to expand its fleet with new low-floor trolleybuses, modernize its depot and other infrastructure, and expand and redistribute three trolleybus routes.
According to information on the Cherkasy City Council website, the project involves attracting EBRD loan funds for the purchase of trolleybuses with a range of up to 20 km.
“Cherkasy has been preparing to implement this project for almost 10 years. Due to previous debt obligations, the city was unable to obtain a loan for a long time, but after a positive conclusion from the Ministry of Finance, active work on the final decisions was carried out over two years. Currently, all key approvals have been obtained,” said Cherkasy Mayor Anatoliy Bondarenko.
Thanks to the project, Cherkasy will be able to renew up to 90% of the rolling stock of the Cherkasyelektrotrans municipal enterprise.
As reported, the rolling stock of Cherkasyelektrotrans currently includes 12-meter Bogdan trolleybuses manufactured in 2015, Belarusian BKM trolleybuses manufactured in 2012, LAZ trolleybuses manufactured in 2006 and 2008, one articulated Aviant-Kyiv trolleybus manufactured in 1997, as well as ZiU trolleybuses manufactured in the 1980s and 1990s.
Last year, local authorities announced that they wanted to purchase approximately 45 trolleybuses with EBRD loan funds. Currently, the plan is to purchase up to 44 vehicles.
€16 million, with EU support, will support procurement of modern trolleybuses and infrastructure improvements
The European Bank for Reconstruction and Development (EBRD) is lending €16 million to the City of Cherkasy in Ukraine to finance the purchase of modern trolleybuses and the upgrade of related infrastructure for the city. The investment will strengthen sustainable urban mobility and ensure uninterrupted public transport services amid the wartime challenges facing Ukraine.
The loan, fully guaranteed by the City, will be co-financed by an investment grant of up to €4 million from the EBRD Shareholder Special Fund and will benefit from partial first loss risk cover under the European Union’s Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience Programme (UIF MIIR). This promotes green transition and resilience in Ukraine’s economy by supporting sustainable investments in green city infrastructure, greening logistics chains, energy efficiency and green technology transfers.
The financing will enable Cherkasyelektrotrans, the municipal public transport operator in Cherkasy, to expand its fleet with new low-floor trolleybuses, modernise depots and other infrastructure, and extend and realign three trolleybus routes.
The project forms part of the EBRD’s Resilience and Livelihoods Framework, aimed at safeguarding essential municipal services during wartime. It will improve mobility for residents, including internally displaced people, and significantly reduce polluting emissions, contributing to better air quality. Aligned with the Paris Agreement’s mitigation and adaptation goals, the project is classified as 100 per cent green finance.
It also promotes inclusion by increasing accessibility for passengers with limited mobility and supporting gender equality through a partnership with UN Women’s She Drives programme, which will train and certify women and youth as trolleybus drivers.
By investing in Cherkasy’s public transport system, the EBRD is helping to maintain vital services, strengthen resilience and advance Ukraine’s green transition during a time of unprecedented challenge.
The EBRD has substantially increased its investments in Ukraine since Russia began its full-scale war there in 2022, deploying more than €8.5 billion to support energy security, vital infrastructure, food security, trade and the private sector.
