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 Dnipro

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

May 20, 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

Communal Enterprise "Dniprovska Municipalna Energoservisna Kompanya"

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

Sectors

Construction
Education and Health
Energy
Infrastructure

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)

$ 28.22 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 25
Converted using 2025-05-20 exchange rate.

Loan Amount (USD)

$ 28.22 million

Project Cost (USD)

$ 40.07 million

Bank Documents

PSD Translation (Ukrainian)

Other Related Projects

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 4, 2025

Disclosed by Bank May 26, 2025

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Can you contribute information about this project?
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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.

As stated by the EBRD, the project consists of a senior loan of up to EUR 25 million to the Communal Enterprise "Dniprovska Municipalna Energoservisna Kompanya", the municipal energy management company, owned by the City of Dnipro, to finance energy-saving measures in public buildings in the City. The loan is expected to be co-financed by an investment grant of up to EUR 8 million from a bilateral or multilateral donor, with the grant funding source and amount to be confirmed prior to signing of the Project legal documentation. The local contribution of up to EUR 2.5 million will cover additional energy conservation measures, capital repairs and technical supervision under the Project.

The Project proceeds will finance investments with elements of an Energy Performance Contract (EnPC) for energy efficiency improvement measures in ca. 88 public buildings, including kindergartens, schools and hospitals.

The proposed investment will enable the City to finance energy efficiency measures through EnPCs implemented by private contractors selected under competitive tender(s). The investments are expected to result in strong improvement of public buildings' condition through renovation of facilities and meeting heating requirements, enhanced comfort level and reliability of services at kindergartens, schools and hospitals, as well as reduction of energy and maintenance costs of the buildings and decrease in CO2 emissions.

The Project will also pilot the installation of renewable energy sources in hospitals, helping to diversify the energy supply and enhance energy security in the City. This will reduce the hospitals' dependence on external energy sources, which can be disrupted by power outages, ensuring they continue to operate smoothly and provide uninterrupted healthcare services to the population during the war.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

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.

As stated by the EBRD, Communal Enterprise "Dniprovska Municipalna Energoservisna Kompanya" is the municipal energy management company, which develops, tenders and finances EnPC sub-projects on behalf of the City.

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.

Client - City of Dnipro, Communal Enterprise "Dniprovska Municipalna Energoservisna Kompanya":

Oleksiy Cherevchenko
Email: alexdmesko@gmail.com
Phone: +380660605759
Address: 75 Dmytra Iavornytskogo Avenue Dnipro, 49000, 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