Ukraine’s Finance Minister Sergii Marchenko and EBRD President Odile Renaud-Basso discussed support for the energy sector and preparations for the next heating season in Kyiv

Ukraine’s Finance Minister Sergii Marchenko met with President of the European Bank for Reconstruction and Development Odile Renaud‑Basso in Kyiv.

The meeting was also attended by Deputy Ministers of Finance Olga Zykova and Oleksandr Kava, Deputy Minister for European Integration Yuriy Draganchuk, and Government Commissioner for Public Debt Management Yuriy Butsa. The EBRD delegation included Vice President Matteo Patrone, Managing Director for Ukraine and Moldova Arvid Tuerkner, and other Bank representatives.

The parties discussed the EBRD’s current operations in Ukraine, budget financing needs for 2026–2027, support for state-owned enterprises, capital market development, the privatization of state banks, and the use of EU guarantees for investment projects.

Sergii Marchenko thanked the EBRD for its large-scale support since 2022. Since the start of the full-scale invasion, the Bank has mobilized more than EUR 9 billion to support liquidity and resilience of critical infrastructure and both the public and private sectors.

A key focus of the discussion was support for the energy sector and preparations for the next heating season. The Ukrainian side expressed gratitude for EUR 770 million provided ahead of the previous winter and for grant support from the Government of Norway exceeding EUR 300 million, which helped secure nearly 90% of the financing needed for gas imports. The parties agreed to strengthen cooperation on decentralized generation, cogeneration capacity, energy storage systems, and protection of critical infrastructure.

Special attention was paid to the financial sustainability of state-owned companies, including Ukrzaliznytsia, Naftogaz, Ukrenergo, and Ukrnafta, which remain critical for the functioning of the economy and energy system during wartime. The parties also discussed cooperation and financing to enhance nuclear and radiation safety at the Chornobyl Nuclear Power Plant.

Another part of the talks focused on the privatization of state banks and strengthening corporate governance. The Government of Ukraine has already launched the selection of an advisor for the sale of share packages in Sense Bank and Ukrgasbank.

The parties also discussed the use of EU guarantees and the Ukraine Investment Framework to finance priority infrastructure and recovery projects. 

The EBRD President confirmed the Bank’s readiness to further strengthen support for Ukraine and facilitate investment for recovery and economic modernization.