In 2025, the EBRD allocated €2.9 billion to Ukraine, significantly exceeding the €2.4 billion provided in 2024, according to the bank’s press release.
Priority areas: energy and the private sector
Energy security was the key financing priority in 2025, accounting for more than €1.2 billion. The EBRD noted that over 90% of projects and 57% of total investment volume were directed to the private sector, underscoring the bank’s continued focus on supporting entrepreneurship and market-based mechanisms despite wartime conditions.
Bank intermediation and risk-sharing instruments
In 2025, the EBRD provided a record €1.2 billion through partner financial institutions in Ukraine, including:
These instruments enabled Ukrainian banks to extend new lending of up to €1.6 billion.
Overall, since 2022, EBRD risk-sharing programmes have facilitated more than €2.4 billion in new financing across approximately 30,000 sub-loans, primarily to small and medium-sized enterprises (SMEs).
Support for veterans and the labour market
In 2025, the EBRD also placed a strong emphasis on veteran reintegration and skills development. Through programmes with partner banks, the EBRD supported 111 sub-loans totalling €12.2 million, aimed at veterans and veteran-led businesses.
Gregory Guyett, First Vice President of the EBRD, who visited Kyiv this week, noted that labour shortages and the quality of human capital are currently an even more pressing challenge for Ukrainian companies than access to electricity.
Donor funding and overall scale of support
The EBRD stressed that the increase in financing for Ukraine was made possible by expanded support instruments and assistance from international partners. In 2025, this included:
Since the start of Russia’s full-scale invasion in February 2022, the EBRD has provided €9.1 billion to Ukraine, including nearly €3.3 billion for energy security.
In addition, the EBRD has mobilised €3.4 billion in donor funding, including unfunded guarantees. In 2025, €904 million in secured financing was signed, while an additional €20 million was mobilised through multilateral donor funds to support projects across the country.
Preparing for reconstruction
EBRD President Odile Renaud-Basso emphasised that the bank will continue to support Ukraine and is already working with the government to lay the groundwork for post-war reconstruction.
According to the bank, the EBRD plans to provide at least €1.5 billion per year to Ukraine during the war, with the potential to significantly scale up financing once large-scale reconstruction begins. These commitments are supported by the 2023 agreement to increase the EBRD’s paid-in capital by €4 billion, which has already been 95% implemented.
Beyond financing, the EBRD is actively involved in project preparation, including through the multinational Ukraine FIRST initiative launched in 2025. The initiative aims to accelerate the restoration of critical infrastructure by streamlining and coordinating the preparation of large-scale projects.
In 2025, the EBRD’s total annual investments across all regions of operation increased to €16.8 billion, up from €16.6 billion in 2024, also marking a record level. Full financial results are expected to be published in the spring.
Founded in 1991, the EBRD had, as of the end of 2024, approved 624 projects in Ukraine worth €22.15 billion, of which €14.14 billion had been disbursed. The bank’s active portfolio in Ukraine comprised 241 projects totaling €6.13 billion.
Джерело: https://inventure.com.ua
