EBRD has invested EUR 9.2 bln in 25 projects in Ukraine since start of full-scale war – Vice President

Matteo Patrone, Vice President of the European Bank for Reconstruction and Development (EBRD), speaking at the Ukraine House Davos during the World Economic Forum (WEF), said that since the start of the full-scale war the bank has invested EUR 9.2 billion in 25 projects in Ukraine, with energy being the most important sector with EUR 3 billion in projects.

According to him, reconstruction of the energy sector will largely be the task of the private sector; however, as long as the war continues, the public sector will play an important role. In this context, the EBRD is focusing its efforts on cooperation with NPC Ukrenergo, the electricity transmission system operator, which has been a constant target of Russian missile and drone attacks.

He reported that the EBRD, together with the Norwegian government, has invested EUR 1 billion to support Ukrenergo and is also cooperating in this area with the Italian government.

Among other areas, he mentioned work with Ukrnafta and Ukrzaliznytsia in the context of providing generators and supporting electricity distribution, as well as cooperation with the International Finance Corporation (IFC) and Naftogaz Ukrainy on projects in the bioethanol and power generation sectors.

In addition, Patrone highlighted the Power One project, which provides for the supply of generators and battery storage systems, as well as the development in the private sector of a portfolio of solar generation based on solar panels. Through the financial sector, he said, EUR 70 million is earmarked for small businesses and individuals who would like to install rooftop solar panels.

Together with the World Bank, the EBRD is developing a platform intended to ensure predictability, in particular with regard to the tariff system. The bank is also working closely with the Energy Community Secretariat and is developing a separate policy for proper market regulation and the development of an auction mechanism.

Speaking separately about nuclear energy, Patrone noted that the EBRD has traditionally worked on energy security issues with due regard for the nuclear segment. He recalled that the Shelter facility at the Chornobyl Nuclear Power Plant was also implemented on behalf of the international community, and that in February 2025 it was damaged by a drone strike. The EBRD is working with the International Energy Agency to mitigate the negative impact of the incident and stressed that time plays a very important role to ensure that corrosion of the system does not lead to irreversible processes.