RLF - Kyiv Emergency Liquidity II (EBRD-57497)

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 Kyiv
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Jul 22, 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 Kyiv - Communal Enterprise "Kyivteploenergo"
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Humanitarian Response
  • 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)
$ 57.21 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 50
Converted using 2026-07-03 exchange rate.
Project Cost (USD)
$ 57.21 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 50
Converted using 2026-07-03 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 5, 2026

Disclosed by Bank Jul 3, 2026

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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 EUR 50 million, to provide emergency support to the City of Kyiv via liquidity financing to its key municipal utility, to mitigate the effect of the ongoing war and to ensure uninterrupted provision of critical municipal services to the City's residents, internally displaced persons ("IDPs") and enterprises. The recipient of the liquidity support from the City is Communal Enterprise "Kyivteploenergo" (the "Recipient" or "KTE"), a municipal district heating company, an existing client of the Bank.

Given war- related risks, the loan will benefit from a partial first loss risk cover by the EU Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience ("EU UIF MIIR") Programme.

The Bank's loan will support the key municipal utility by addressing its critical liquidity needs, to ensure uninterrupted provision of essential public services to the City's residents and businesses, despite the direct damages from the war and additional demand for district heating services driven by the presence of significant number of IDPs.

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). The provision of short-term working capital to support liquidity of the City to compensate for temporary revenue losses and additional expenses due to the ongoing war and also support with operating and maintenance costs to the existing client is not associated with any new environmental or social (E&S) risks or impacts.

The municipal district heating utility Communal Enterprise "Kyivteploenergo" is an existing Client to the Bank.

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

A senior loan of up to EUR 50 million.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - KyivTeploEnergo 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.

Oleksandr Prokopenko
df.kmda.prokopenko@ukr.net
+380442027929
https://kyivcity.gov.ua/
36 Khreschatyk St., Kyiv, 01001, Ukraine

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

How it works

How it works