Early Warning System

Regions

Europe and Central Asia

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

Countries

Ukraine

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

Specific Location

City of Rivne

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

Feb 10, 2026

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

City of Rivne

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

Sectors

Energy
Infrastructure
Law and Government

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)

$ 14.27 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 12
Converted using 2026-02-10 exchange rate.

Project Cost (USD)

$ 22.59 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 12, 2026

Disclosed by Bank Feb 9, 2026

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 loan of up to EUR12 million to the City of Rivne, to finance Energy Efficiency ("EE"), Renewable Energy ("RE") and energy security measures in up to 24 public buildings, including key social infrastructure facilities such as hospitals, kindergartens, schools, and war veterans rehabilitation facilities. The Loan is part of a broader financial package, which also includes a EUR6 million investment grant from the Eastern Europe Energy Efficiency and Environmental Partnership ("E5P"), as well as EUR1 million co-financing from the City. Given war- triggered risks, the Loan will also benefit from a partial guarantee provided by the Government of Spain on a pari passu basis.

The Loan and the E5P grant proceeds will finance EE, RE and energy security investments in up to 24 public buildings, improving thermal comfort for up to 159,000 people using the facilities on annual basis, including vulnerable groups such as people with disabilities, women with children, and Internally Displaced Persons ("IDPs"). Thanks to the installation of photovoltaic panels, battery energy storage systems, and heat pumps, the Project will enhance energy resilience of the City.

At the end-user level, the Project is expected to ensure energy savings of up to 46% versus normalized baseline. It also includes accessibility improvements in 14 healthcare and educational institutions. The total annual reduction in Greenhouse Gas ("GHG") emission from the Project is calculated at 2,979 tonnes of CO2e.

The City of Rivne, the administrative centre of Rivnenska Oblast in western Ukraine, has a population of approximately 260,000 residents. Since the military invasion of the territory of Ukraine by Russia, the City has become a key destination for IDPs, with over 20,000 individuals relocating from other regions of Ukraine.

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.

Categorised B(2024 ESP).

There are no land or economic displacement impacts. Impacts on cultural heritage are not applicable to the sites reviewed by the ESDD, and the Borrower will maintain a screening process for the identification of such risks in the future.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

€12 million senior loan, cofinanced with up to €6 million investment grant from E5P and up to €1 million local contribution.

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.

Artem Hanushchak, Deputy Mayor of the City of Rivne
mvk@rivnerada.gov.ua
+380 362 63 5709 or +380 362 26 2525
https://rivnerada.gov.ua/
Soborna St, 12a, Rivne, Rivne Oblast, Ukraine, 33000

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