Sergii Marchenko and EBRD Vice President Matteo Patrone discuss support for Ukraine’s energy system

Minister of Finance of Ukraine Sergii Marchenko met with Vice President of the European Bank for Reconstruction and Development (EBRD) Matteo Patrone, EBRD Managing Director for Ukraine and Moldova Arvid Tuerkner, and other representatives of the Bank.

The meeting was also attended by Deputy Minister of Finance Olga Zykova, Deputy Minister of Finance for European Integration Yuriy Draganchuk, and Government Commissioner for Public Debt Management Yuriy Butsa.

The parties discussed the Bank’s current project portfolio in Ukraine’s public and private sectors, the country’s budget needs for 2026, and financing priorities, including support for Ukraine’s energy system.

Sergii Marchenko thanked the EBRD for its continued financial support in restoring Ukraine’s critically important economic sectors.

“The EBRD remains a reliable partner of Ukraine in reconstruction and recovery efforts. Since the beginning of russia’s full-scale invasion, the Bank has invested over EUR 8 billion in projects aimed at rebuilding critical infrastructure. We have currently discussed with the EBRD the possibility of mobilizing additional financing for gas procurement to ensure a stable heating season in 2025-2026. This is an urgent priority given the intensified russian attacks on Naftogaz facilities and Ukraine’s energy infrastructure in general,” said Minister of Finance Sergii Marchenko.

The parties also discussed options for covering gas procurement needs with support from other donors - international financial institutions - and the possibility of attracting funds under EU guarantees.

Between 2022 and 2025, the EBRD provided nearly EUR 1 billion for emergency gas procurement to ensure uninterrupted heating seasons from 2022 to 2026. In 2025 alone, loan agreements worth EUR 770 million were signed with Naftogaz, including EUR 500 million guaranteed by the European Commission and EUR 270 million guaranteed by the Government.

During the meeting, the Ministry of Finance and the EBRD leadership also discussed preparations for the IMF and World Bank Annual Meetings to be held in Washington this October.

Matteo Patrone reaffirmed the EBRD’s commitment to supporting the restoration of Ukraine’s energy system.

The EBRD continues to actively finance initiatives that enhance energy security, strengthen liquidity and resilience of state-owned enterprises, restore infrastructure, support micro, small, and medium-sized businesses, and provide capital investments in the private sector.

Currently, the EBRD’s active public-sector portfolio includes 15 projects totaling EUR 3 billion in lending. In the energy sector, the Bank finances nine projects worth EUR 1.7 billion, and in the transport sector - six projects worth EUR 1.3 billion.