AUB partners news

UGB (Ukrgasbank) has received €85 million from the European Investment Bank (EIB), the European Union's bank, to support economic stability and modernize centralized heating infrastructure in Ukrainian cities.

The financing is provided with the support of the EIB's EU for Ukraine Fund and the Ukraine Investment Framework initiative, confirming the European Union's continued support for stabilizing the Ukrainian economy and ensuring the provision of essential services.

The funding will be used to support two key areas:

• €70 million to support Ukrainian businesses. The funds will expand access to long-term loans for micro, small, and medium-sized enterprises, as well as corporate businesses, which will help preserve jobs, support private sector development, and stimulate investment in green technologies. This is in line with UGB's strategic goal as Ukraine's leading eco-bank and will contribute to the green transition, which is an important part of the country's sustainable recovery.
  
• €15 million — to modernize the thermal infrastructure of communities.

The bank will use the funds raised to finance municipalities and utilities for the repair, restoration, and modernization of centralized 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.

“The support of the European Investment Bank is extremely important for the sustainable reconstruction of Ukraine. Thanks to these funds, we will be able to provide financing to businesses and communities that are restoring critical infrastructure and implementing energy-efficient solutions across the country,” said Rodion Morozov, acting chairman of the board of Ukrgasbank.

"The disbursement of these funds ensures that support reaches Ukrainian businesses and communities when it is most needed. This helps to maintain economic activity on the ground and provide communities with heat and basic services in winter. We are working closely with the European Commission, the Ukrainian government, local banks, and authorities to ensure that the assistance is effective and targeted," said Teresa Czerwinska, EIB Vice President responsible for the bank's activities in Ukraine.

The new resources will contribute to Ukraine's economic recovery and strengthen its energy security.

About the EIB's activities in Ukraine: operating since 2007. Following Russia's full-scale invasion in 2022, the bank significantly stepped up its support, providing €4 billion in financing. Through the EU4U initiative and its key role in implementing the Ukraine Facility, the EIB is actively contributing to the country's recovery and resilience in close cooperation with EU institutions, member states, and international partners.