EIB preparing to sign project with Ukraine's Ukrhydroenergo to restore strategic energy infrastructure

The European Investment Bank (EIB) is finalizing a project with Ukrhydroenergo aimed at restoring and enhancing the operational resilience of the company's strategic facilities, according to Kristina Mikulova, head of the EIB regional hub for Eastern Europe, in an interview with Interfax-Ukraine.

The EIB is playing a key role in supporting Ukraine under the Ukraine Facility. In March 2025, a guarantee agreement was signed with the European Commission, enabling the Bank to provide at least EUR 2 billion in financing for priority recovery and reconstruction efforts in Ukraine. These funds will be directed toward the restoration of critical infrastructure and services, particularly in the energy sector, as well as district heating, water supply, and social infrastructure such as schools, hospitals, and kindergartens.

"One of the first and fastest steps following the signing of the guarantee agreement was the first wave of financing for the public sector totaling EUR 300 million. The signing took place in early April in Brussels during a meeting between Ukrainian Prime Minister Denys Shmyhal and EIB President Nadia Calviño. The funding covers three projects, each receiving EUR 100 million for the restoration and modernization of heating and water systems, and the reconstruction of key municipal social infrastructure across Ukraine… The next in line is the project with Ukrhydroenergo. It is focused on restoring and increasing the operational resilience of the company's strategic assets, which will directly enhance the reliability of Ukraine's power system, especially in the face of ongoing attacks," Mikulova added.