The European Investment Bank (EIB) has approved a project to provide ProCredit Bank (Kyiv) with a partial portfolio guarantee of EUR7 million, which will enable the financial institution to issue up to EUR35 million in loans to micro, small, and medium-sized enterprises (MSMEs).
As stated on the EIB website, the guarantee is part of the EU4Business Guarantee Facility II program, which aims to improve lending conditions for businesses, in particular by reducing collateral requirements and lowering interest rates, thereby expanding access to finance for MSMEs in Ukraine.
As reported, EU4Business Guarantee Facility II is a program under which the EIB provides Ukrainian banks with partial portfolio guarantees to expand lending to MSMEs. Its goal is to simplify access to financing for these enterprises by improving loan conditions. The total volume of the program is estimated at EUR 300 million, of which EUR 40 million is EIB guarantees. The project was approved on May 5, 2025.
ProCredit Bank is part of the ProCredit Holding AG (Germany) banking group, which owns 100% of its shares. According to the National Bank, as of October 1 this year, it ranked 16th (UAH 44.68 billion) among 60 banks in Ukraine in terms of total assets.
The Kryvyi Rih Mining and Metallurgical Plant PJSC ArcelorMittal Kryvyi Rih (AMKR, Dnipropetrovsk region) intends to attract a loan of up to $200 million from the European Bank for Reconstruction and Development (EBRD).
According to the company, on November 26, 2025, the supervisory board of AMKR approved a significant transaction—securing a loan from the EBRD.
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 (UAH 8,480,300 thousand at the NBU exchange rate as of November 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) is 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.
In October 2025, Oschadbank increased its portfolio of loans to legal entities by UAH 4.2 billion, which, according to its data, is the largest increase among Ukrainian banks, according to a release on the financial institution’s website.
Oschadbank noted that the total volume of its loan portfolio to legal entities as of October 1 this year amounted to UAH 99 billion, of which UAH 30 billion were loans to micro, small, and medium-sized businesses, with the remainder going to corporate businesses.
As noted in the release with reference to the National Bank’s data, Oschadbank’s net portfolio at the beginning of October accounted for 13.6% of the corporate lending market, securing its leading position.
“During the full-scale invasion, Oschadbank has been directing its free liquidity to support the real sector of the economy, and during this period, the corporate business loan portfolio has grown more than one and a half times, or by UAH 23.5 billion, with this segment accounting for 70% of the corporate portfolio,” said Yuriy Katsion, deputy chairman of the bank’s board, who is responsible for this area, in a press release.
As reported, in October 2025, the corporate segment’s loan portfolio grew by 2.6%, or UAH 26.9 billion, to UAH 970.1 billion. Hryvnia loans to businesses added 1.7%, or UAH 11.5 billion, reaching UAH 689.7 billion, while foreign currency loans increased by 4.2%, or $267 million, to $6.68 billion.
According to the NBU, at the beginning of October this year, Oschadbank, with total assets of UAH 485.69 billion (12.3% of the total), was second among 60 banks in terms of this indicator.
The European Bank for Reconstruction and Development (EBRD) is providing a risk-sharing guarantee without financing in the amount of UAH150 million (EUR3.1 million) to cover half of the loan issued by Ukrsibbank to retailer EVA for the development of its logistics hubs, the company’s press service reported.
“This agreement is an important milestone for EVA and our first experience of cooperation with the European Bank for Reconstruction and Development. We underwent a thorough analysis by the EBRD, which confirmed EVA’s financial stability, the compliance of our activities with the criteria of Ukrsibbank and the EBRD for borrowers, and the recognition of our company as a reliable partner capable of developing its business even in wartime,” said Lilia Volenko, CFO of Rush LLC (EVA and eva.ua network), in a press release.
It is noted that this agreement was the first time the bank used the EBRD’s risk-sharing program (individual investment loan guarantee) to provide an investment loan to a corporate client. Previously, risk sharing rules allowed the bank to share risks only for working capital financing transactions.
According to Volenko, this agreement is a signal to the market about the possibility of attracting long-term financing with the support of international institutions in wartime.
Rush LLC, which manages the EVA chain, was founded in 2002. The chain has over 1,100 stores.
According to YouControl, the owner of Rush LLC is listed as Cyprus-based Incetera Holdings Limited (100%), with Ruslan Shostak and Valery Kiptik as the ultimate beneficiaries.
At the end of the third quarter of 2025, Rush’s net income increased by 18.6% compared to the same period last year, reaching UAH 22.9 billion. Net profit decreased by 14.7% to UAH 1.7 billion.
The European Bank for Reconstruction and Development (EBRD) plans to provide NEC Ukrenergo with a state-guaranteed loan of up to EUR90 million for the reconstruction of selected substations in the country.
“It is expected that the loan, if possible, will be co-financed by investment grants from international donors totaling up to EUR60 million for the purchase of reserve stocks of electrical equipment and equipment for inter-system connections,” the bank said in a statement on its website.
The project is currently awaiting approval by the bank’s board.
As explained by the EBRD, the goal of the project, with a total cost of EUR 150 million (EUR 90 million + EUR 60 million), is to increase the resilience of the power transmission system in the face of constant attacks to ensure uninterrupted power supply to the population and businesses throughout the country.
In particular, the current loan will be used to reconstruct three existing substations and complete the construction of one new substation in Ukraine, which was started as part of a project financed by the bank in 2014.
The reconstruction of the three existing substations and the completion of the new substation will be carried out in accordance with international best practice, using equipment that meets EU requirements. Some of the damaged or destroyed equipment will be replaced.
Currently, the new substation with 330 kV overhead power lines is being built at the stage of already laid foundations using EBRD loan funds saved as part of the project to build the 750 kV Zaporizhzhya NPP – Kakhovka power line.
As the EBRD recalled, since February 2022, the bank has provided Ukrenergo with three loans as part of its ongoing support, including emergency capital support and emergency investments aimed at restoring the power transmission network after serious damage caused by the Russian military invasion of Ukraine.
According to the EBRD, Ukrenergo has provided the bank with satisfactory reporting on these loans, as well as generally satisfactory reporting in the past. It has the national capacity to implement the bank’s environmental and social requirements (ESR), as well as national and European legislation. The company is strengthening its ESG management system, including inclusive measures, to help it report on sustainability issues in the future in accordance with the EU Corporate Sustainability Reporting Directive (CSRD).
As reported with reference to Maxim Khlapuk, a member of the Verkhovna Rada’s energy committee, as of June 2025, the total amount of credit funds under agreements between Ukrenergo and the EBRD, as well as the European Investment Bank (EIB), amounted to EUR1.22 billion, of which EUR 215.5 million remained unutilized, and with the International Bank for Reconstruction and Development (IBRD) – $509.74 million, of which $54.87 million remained unutilized.
In addition, under two grant agreements between Ukraine and the IBRD for EUR 37.7 million and $200 million, EUR 18.9 million and $134.5 million remained unutilized, respectively.
EBRD, LOAN, POWER GRID, RECONSTRUCTION, SUBSTATION, UKRENERGO
The European Bank for Reconstruction and Development (EBRD) may provide Bank Lviv with an unsecured loan in hryvnia for up to EUR 40 million and guarantees for EUR 31.5 million to cover the credit risk on new loans to the Ukrainian bank for a total amount equivalent to EUR 45 million.
According to the EBRD website, its Board of Directors plans to consider the relevant projects at its meeting on October 22 this year.
According to published materials, the loan is planned to be provided in four equal tranches of EUR 10 million each. It will consist of two components: at least 75% under the EBRD’s Resilience and Livelihoods Program and up to 25% under the EU4Business-EBRD Credit Line with incentives to finance long-term capital investments by MSMEs.
As for the guarantee project, unlike most similar projects with larger banks, it covers 70% of the risk, rather than the usual 50%. It is noted that the mechanism will include two sub-limits with a covered portfolio: EUR 36 million under the Sustainability and Livelihoods Guarantee product and EUR 9 million under the EU4Business-EBRD credit line with incentives.
The EBRD notes that Bank Lviv is a regional bank focused on MSMEs operating in western Ukraine, with total assets of EUR 333 million (0.5% of the market, ranked 23rd among 60 banks) and a loan portfolio (mainly SMEs) of approximately EUR 212 million as of the end of the second quarter of 2025 (1.2% of the market). Bank Lviv has its head office in Lviv and 20 branches.
