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.

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

Mar 31, 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

CONCERN GALNAFTOGAS JSC

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

Sectors

Energy
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)

$ 11.57 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 10
Converted using 2026-03-31 exchange rate.

Project Cost (USD)

$ 15.62 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS May 22, 2026

Disclosed by Bank May 20, 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 an up to EUR 10 million senior loan to JSC Concern Galnaftogaz to support the installation of Electric Vehicles' ("EV") charging stations in Ukraine. Total Project cost is estimated at EUR 13.5 million.

The Loan is expected to be complemented by a grant under the Connecting Europe Facility Transport ("CEF-T"), Alternative Fuels Infrastructure Facility ("AFIF"), to be provided by the European Commission. EBRD is an implementing partner under the CEF-T.

By supporting Galnaftogaz in the installation of EV charging stations, the EBRD will help advance the decarbonisation and electrification of Ukraine's transport sector during a period of acute crisis, supporting the country's long-term resilience and sustainable development.

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 (ESP 2024). Environmental and Social ("E&S") risks associated with the construction and operation of EV charging infrastructure at existing public fuel stations are site-specific and can be readily addressed through appropriate mitigation measures.

Contractors will be used for Project installations and are required to meet EU environmental, health and safety standards and EBRD Environmental and Social Requirements. Workers engaged in the operation of the Project will have specific training on safe and environmentally compliant management of the site.

Specific measures associated with the EV's infrastructure will be in place to prevent and respond to battery and electrical fires. Emergency preparedness and response plans will be in place with site incident response managed by a centralised corporate team. Traffic and road safety risk management is reviewed on an ongoing basis. The ESAP further requires stations to have sufficient lighting and CCTV to support community safety and security. Although additional land use is not expected, if a need arises, the Company is required to acquire land on seller willing - buyer willing basis.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

An EUR 10 million senior loan.
Total Project cost is estimated at EUR 13.5 million.

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.

Galnaftogaz is a leading transportation fuels retail company in Ukraine. The Company is majority owned by GNG Retail Limited, which together with VI.AN Holding Limited, a separate key sub-holding company, form the OKKO Group.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	JSC Concern Galnaftogaz	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.

Nazar Kupybida, CFO
press.center@gng.com.ua
+38 032 298 96 30
https://www.okko.ua/
72 Heroiv UPA St. Lviv, Ukraine 79015

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