UGB (Ukrgasbank) received €85 million from the EIB to support Ukrainian business and the energy independence of communities

UGB (Ukrgasbank) has received €85 million from the European Investment Bank (EIB), the bank of the European Union, to support economic resilience and the modernization of district heating infrastructure in Ukrainian cities.

The attracted financing will be directed to support two key areas:

• €70 million — to support Ukrainian business. The funds will expand access to long-term loans for micro-, small and medium-sized enterprises (MSMEs), as well as corporate segment businesses, helping to preserve jobs, support the development of the private sector, and stimulate investments in "green" technologies. This aligns with UGB's strategic goal as Ukraine's leading eco-bank and will contribute to the implementation of the green transition, which is an important component of the country's sustainable recovery
• €15 million — for the modernization of community heating infrastructure. The bank will direct the attracted funds to finance municipalities and utility companies for the repair, restoration, and modernization of district heating systems, improving energy efficiency in public buildings, and implementing renewable energy solutions. This will reduce dependence on vulnerable centralized infrastructure, restore facilities damaged by Russian attacks, and provide schools, hospitals, and residential areas with more reliable and efficient heating systems.

“Support from the European Investment Bank is extremely important for the sustainable reconstruction of Ukraine. Owing to these funds, we will be able to finance businesses and communities that are restoring critical infrastructure and implementing district heating and energy-efficient solutions throughout the country,” emphasized Rodion Morozov, Acting Chairperson of the Management Board of Ukrgasbank.

“The disbursement of these funds ensures that support is now reaching Ukrainian businesses and municipalities at a critical time. It helps keep local economic activity going and enables communities to maintain heating and essential public services during the winter. We are working in close cooperation with the European Commission, the Government of Ukraine, local partner banks and local authorities to make sure this assistance is delivered effectively and where it is most  needed.” said EIB Vice-President Teresa Czerwińska, who oversees the bank's operations in Ukraine.

The new resources will contribute to the recovery of Ukraine's economy and the strengthening of its energy security.

About the EIB in Ukraine: The EIB has been working in Ukraine since 2007. Following Russia’s full-scale invasion in 2022, the bank significantly stepped up its support, providing €4 billion in financing. Through its EU4U Initiative and its key role in implementing the Ukraine Facility, the EIB is actively contributing to the country's reconstruction and resilience in close cooperation with EU institutions, Member States, and international partners.

07.11.2025