Sergii Marchenko discussed support for Ukraine’s energy sector with EBRD President Odile Renaud-Basso in Kyiv

Minister of Finance of Ukraine Sergii Marchenko held a meeting with the President of the European Bank for Reconstruction and Development (EBRD) 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. On the EBRD side, participants included the Bank’s Vice President Matteo Patrone, EBRD Managing Director for Ukraine and Moldova Arvid Tuerkner, and other representatives of the Bank.

The parties discussed the current portfolio of EBRD projects in Ukraine’s public and private sectors, as well as financing priorities for 2025-2026, particularly support for the Ukrainian energy system. 

Sergii Marchenko expressed his gratitude to the EBRD President for the Bank’s consistent support for Ukraine since the beginning of the full-scale russian invasion.

The central topic of the discussions was the support of Ukraine’s energy sector, which is critically important in the context of russia’s targeted attacks on Ukraine’s energy infrastructure. The parties examined the possibility of financing gas procurement to ensure the uninterrupted passage of the 2025/2026 heating season. They also explored ways to secure such credit support – either through reallocating funds from existing projects to support Naftogaz or through providing additional financing.

Special attention was given to the possibility of mobilizing financing for gas procurement backed by EU guarantee instruments, as well as securing support from other donors. According to Naftogaz estimates, more than 4 billion cubic meters of additional gas must be imported to ensure stable passage through the 2025-2026 heating season.

Participants also discussed the progress of the IMF mission regarding the launch of a new financial cooperation program, as well as the possibility of the European Commission providing a Reparations Loan for Ukraine’s budgetary support.

Odile Renaud-Basso reaffirmed that the Bank will continue to support Ukraine and is ready to strengthen assistance in line with the country’s needs.

As of November 2025, the total volume of EBRD financing provided to Ukraine since the start of cooperation stands at EUR 22.6 billion. Since the beginning of the full-scale invasion alone, the Bank has mobilized over EUR 8.5 billion for the restoration of critical infrastructure.

Currently, the EBRD finances initiatives that support liquidity and resilience in the public sector, develop MSMEs, and provides capital investments in the private sector. The active public-sector project portfolio includes 15 projects with a total value of EUR 3 billion.

Between 2022 and 2025, the EBRD allocated nearly EUR 1 billion for emergency gas procurement.