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Photo: https://t.me/Koretskyi_official/
Ukrainian Prime Minister Denys Shmyhal discussed with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, and the bank’s management, projects for financial support to Ukraine, particularly in the areas of infrastructure recovery, energy, and transportation.
“We discussed existing financial support projects in detail. This primarily concerns energy, transportation, and the recovery of critical infrastructure – specific projects with clear results for the country already this year. There are also systemic long-term projects. We will work together,” Shmyhal wrote on Facebook on Saturday.
According to him, the conversation also addressed the implementation of best corporate governance standards in the public sector and support for government initiatives regarding the privatization of state banks and state-owned enterprises.
“I am grateful to the EBRD for its unwavering support of Ukraine. Since the beginning of this year alone, the EBRD’s investments in projects in Ukraine have exceeded EUR1.4 billion,” Shmyhal added.
As reported, at the end of June, Ukraine and the EBRD signed an agreement for EUR90 million aimed at strengthening the protection of Ukraine’s energy system, restoring network infrastructure, and forming reserves of critically important equipment. Within the framework of the loan agreement, financing is also provided for the reconstruction of three large 330 kV substations, as well as the construction of a new substation in western Ukraine.
The EBRD is one of the key donors for projects protecting electricity transmission system facilities. Since the beginning of the full-scale invasion by the Russian Federation, partners have already directed over EUR582 million to these purposes and the formation of reserves for NEC “Ukrenergo.”
At the Ukraine Recovery Conference URC 2026 in Gdańsk (Poland), agreements were signed providing for over EUR500 million in new investments and support for Ukraine from the EBRD.
Also, on the sidelines of the conference, the Deputy Director of the EBRD in Ukraine, Mark Churchill, who oversees the infrastructure sector, noted that the business model of “Ukrzaliznytsia,” which involved cross-subsidization of passenger transportation at the expense of freight without state financing, had reached its limit during the war and a decline in transportation volumes and requires change. He also mentioned the need to make decisions regarding the adjustment of freight transportation tariffs, which have not changed since 2022. He pointed out that restructuring such a model is a condition for the company to continue attracting assistance from the EBRD, which has already provided Ukrzaliznytsia with over EUR700 million since the beginning of the Russian Federation’s aggression, including EUR54 million in grants.