Early Warning System

Countries

Ukraine

Geographic location where the impacts of the investment may be experienced.

Specific Location

City of Cherkasy

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Sep 30, 2025

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Cherkasyelektrotrans CE

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Infrastructure
Law and Government
Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 18.78 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 16
Converted using 2025-09-30 exchange rate.

Project Cost (USD)

$ 23.70 million

Bank Documents

PSD Translation (Ukraine)

Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 9, 2025

Disclosed by Bank Oct 7, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of a senior sub-sovereign loan of up to EUR 16.0 million to the Communal enterprise "Cherkasyelektrotrans", fully guaranteed by the City of Cherkasy. The Loan is also expected to be co-financed by an investment grant of up to EUR 4 million which is being sought from the EBRD Shareholder Special Fund (the "SSF"). Additionally, the Loan will benefit from partial first loss risk cover under the Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience ("UIF MIIR") Programme. The Programme contributes to the green transition of Ukraine economy by supporting sustainable investments in green city infrastructure, greening logistics chains, energy efficiency and green technology transfers in industrial processes, commercial operations, and buildings.

The Loan and the grant co-financing from the SSF will be used to finance: (i) expansion of the Company's operating fleet by financing the acquisition of new modern low-floor trolleybuses with autonomous drive, along with spare parts, maintenance and diagnostic equipment and (ii) modernisation of the related infrastructure including catenary network and the depot. The Bank's financing will enable the Company to extend and realign three trolleybus routes, improving the quality of transport services for the population and ensuring a sustainable public transport connection between different areas of the city. The autonomous trolleybuses will be the first of their kind in the city.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorized B (2019 ESP) and Low-Medium risk. External due diligence assessed potential E&S risks associated with procurement of the new fleet conducting screening of potential suppliers of the trolleybuses, focusing on labour risks in their supply chain and concluded that the risk of forced labour is low due to manufacturing of key components inside Ukraine or in the EU.

Project area implementation is limited to the urban area within the boundaries of the existing urban developments, and no sensitive ecological receptors or protected zones will be affected.

In addition, it is confirmed that the Project will not have significant adverse social impacts to local communities or other Project affected parties, nor will the Project require the acquisition of land or result in involuntary resettlement or economic displacement as construction and installation of electric charging points will be conducted within the existing footprint of Company's depots.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

The Bank's Loan of up to EUR 16.0 million is expected to be co-financed by an up to EUR 4 million investment grant from the EBRD SSF and EUR 0.2 million contribution from the City.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Communal enterprise "Cherkasyelektrotrans", a municipal public transport operator wholly owned by the City of Cherkasy.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Cherkasyelektrotrans CE	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Serhii Otreshko
serot@ukr.net
+38(097)-715-80-77
https://chets.chmr.gov.ua/
Ukraine, 18036 Khimikiv Ave, 82, Cherkasy

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html