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Photo: https://t.me/Koretskyi_official/
Prime Minister of Ukraine Serhiy Koretskyi, along with the President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso and the bank’s management, reviewed projects for financial assistance to Ukraine, particularly focusing on infrastructure restoration, energy, and transportation sectors.
“We thoroughly discussed the existing financial support initiatives. This primarily concerns energy, transportation, and the reconstruction of critical infrastructure – specific projects with tangible outcomes for the country already this year. There are also systematic long-term projects. We will collaborate closely,” Koretskyi stated on Facebook on Saturday.
According to him, the discussion also encompassed the implementation of best corporate governance standards within the public sector and support for government initiatives concerning the privatization of state-owned banks and enterprises.
“I am grateful to the EBRD for their unwavering support of Ukraine. Since the beginning of this year alone, the EBRD’s investments in Ukrainian projects have exceeded EUR1.4 billion,” Koretskyi added.
As previously reported, at the end of June, Ukraine and the EBRD signed an agreement worth EUR90 million, aimed at strengthening the protection of Ukraine’s energy system, restoring network infrastructure, and building reserves of critically important equipment. Within the framework of this loan agreement, funding is also allocated for the reconstruction of three major 330 kV substations, as well as the construction of a new substation in western Ukraine.
The EBRD is recognized as a key contributor to projects safeguarding electricity transmission system facilities. Since the onset of the full-scale invasion by the Russian Federation, partners have channeled over EUR582 million towards these objectives and the formation of reserves for NEC “Ukrenergo.”
At the Ukraine Recovery Conference (URC 2026) held in Gdansk, Poland, agreements were signed, involving over EUR500 million in new investments and support for Ukraine from the EBRD.
Furthermore, on the sidelines of the conference, the Deputy Director of the EBRD in Ukraine, Mark Magaletskyi, who oversees the infrastructure portfolio, noted that the business model of “Ukrzaliznytsia,” which relied on cross-subsidization of passenger transport through freight services without state funding, has reached its limit during the war due to reduced volumes. He emphasized that this model requires modification and that decisions on adjusting freight tariffs, which have remained unchanged since 2022, are necessary. Magaletskyi pointed out that restructuring this model is a prerequisite for the company to continue receiving assistance from the EBRD, which has already provided Ukrzaliznytsia with over EUR700 million, including EUR54 million in grants, since the beginning of the Russian aggression.