EBRD expands Ukraine support with rail and metro financing

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EBRD expands Ukraine support

Highlights

EBRD signed up to 130 million euros in emergency liquidity support for Ukrainian Railways to sustain operations amid increasing infrastructure attacks and costs.
A 150 million euro loan agreement, backed by Spain, was finalized to renew Kyiv Metro’s railcar fleet, enhancing the city’s transport resilience.
Since 2022, the EBRD has deployed 11 billion euros in Ukraine, including a record 2.9 billion euros in 2023, focusing on core transport and energy resilience.

Financing package targets transport and energy resilience

As reported by the European Bank for Reconstruction and Development, President Odile Renaud-Basso is visiting Ukraine this week for talks with government and business leaders on how to sustain economic activity as the security situation deteriorates. She says Russia’s war has entered a new phase, with strikes on business and economic assets aimed at paralysing the economy, increasing the urgency of keeping companies operating, protecting supply chains and maintaining investment.

During meetings in Kyiv and Lviv, Renaud-Basso is accompanied by the bank’s Managing Director for Ukraine and Moldova, Arvid Tuerkner. She meets President Volodymyr Zelensky, Prime Minister Serhii Koretskyi, First Deputy Prime Minister and Energy Minister Denys Shmyhal, Economy and Environment Minister Oleksandr Kravchenko, and National Bank Governor Andriy Pyshnyy.

During a meeting with Recovery, Infrastructure and Transport Minister Mykola Kalashnyk, the EBRD signs an agreement enabling up to 130 million euros in emergency liquidity support for Ukrainian Railways, or UZ. The financing is intended to preserve essential passenger and freight services while supporting the company’s financial resilience and reform programme as attacks on transport infrastructure and operating costs increase.

In the capital, the delegation also signs a 150 million euro loan agreement with the City of Kyiv, backed by the government of Spain, to renew the Kyiv Metro railcar fleet. In Lviv, the bank signs a pre-financing agreement with Mayor Andriy Sadovyi for an integrated energy system for the city’s electric public transport network, including charging hubs, battery storage nodes, medium-voltage infrastructure and solar power capacity.

Broader role in Ukraine’s wartime economy

The projects underscore the EBRD’s focus on maintaining core transport links and improving energy resilience for cities and companies as the renewed blockade of Black Sea ports and repeated infrastructure attacks strain the wider economy. The bank says the aim is to help clients absorb further shocks and continue adapting business models to wartime conditions.

The visit also includes stops at UNBROKEN, a specialist hospital serving veterans and civilians affected by the war, and the Hrybovychi landfill remediation site, which the EBRD previously financed. Since Russia’s full-scale invasion in 2022, the bank says it has deployed 11 billion euros in Ukraine, including a record 2.9 billion euros last year.

Our earlier article on Nigeria’s $5 billion financing arrangement with First Abu Dhabi Bank explained how the government is moving the deal into a new phase to improve liquidity and secure cheaper funding. It also outlined expectations that the funds could support infrastructure, job creation and local businesses, while boosting investor confidence and potentially attracting additional foreign investment.

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