EBRD and EU support Ukraine’s energy security with €75 million for hydropower
The European Bank for Reconstruction and Development (EBRD) is providing a financing package to Ukraine’s state-owned hydropower company, Ukrhydroenergo (UHE), to secure critical equipment for its hydro power plants and reinforce the country’s energy resilience during wartime.
The package includes a senior loan of up to €75 million from the EBRD and up to €20 million in investment grants from international donors. The total project cost, including UHE’s own funds, is €120 million. The financing will cover the supply of critical equipment for hydro power plants, including the emergency reserve stock of electrical equipment, and the consultancy services for project implementation.
The EBRD’s loan is supported by an EU guarantee under its Ukraine Investment Framework (UIF), dedicated to unlocking financing for Ukraine’s recovery and long-term growth. The project falls within the EBRD-UIF HI BAR agreement signed in 2024. The UIF works to unlock financing for Ukraine’s strategic sectors, notably renewable energy.
This investment will enable UHE to replace damaged and worn-out components at selected hydro power plants, improving operational efficiency and increasing renewable energy generation. Once completed, the project is expected to deliver approximately 223 GWh of green electricity per year, reducing Ukraine’s reliance on electricity imports and strengthening its ability to meet peak demand. The initiative will also contribute to annual CO₂ savings of more than 96,000 tonnes.
The project aligns with the EBRD’s Resilience and Livelihoods Framework, supporting essential infrastructure under challenging conditions. It will also introduce a strategic training programme to address human capital gaps among UHE’s engineering staff, ensuring smooth integration of modern equipment and compliance with European standards.
All equipment procured will comply with EU environmental and safety standards, and activities will be implemented within existing facilities without land acquisition or displacement. The project is fully aligned with the Paris Agreement’s mitigation and adaptation goals and qualifies as 100 per cent green finance under the EBRD’s Green Economy Transition methodology.
The project will be supported by donor-funded technical cooperation assignments, including rapid capacity-building for procurement and a strategic new training programme for hydro power engineers and technical specialists. Additional programmes will focus on improving UHE’s ESG practices and developing a gender action plan, reinforcing the company’s commitment to sustainability and inclusion.
By backing this investment, the EBRD is helping Ukraine maintain a stable and secure energy system, accelerate its green transition, and strengthen resilience in the face of unprecedented challenges.
The EBRD has substantially increased its investments in Ukraine since Russia launched its full-scale war there in 2022, supporting energy security, vital infrastructure, food security, trade and the private sector, with 2025 looking set to bring the total deployed in wartime close to €9 billion. The Bank is Ukraine’s largest institutional investor.
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EBRD promotes domestic production of pharmaceuticals in Uzbekistan
08.01.2026.17:08
The European Bank for Reconstruction and Development (EBRD) is promoting further growth in domestic production of pharmaceutical products in Uzbekistan by supporting the operations of leading local manufacturer Nika Pharm.
Nika Pharm will use the EBRD loan of up to US$ 20 million to restructure its balance sheet and upgrade equipment and facilities in order to increase production capacity, improve product quality and bring the entire manufacturing process into compliance with the Good Manufacturing Practice (GMP) standards of the World Health Organisation’s certification scheme.
The company has been an EBRD client since 2021 and is a well-established producer of tablets, capsules, sachets and nasal sprays for use in the treatment of common colds, as well as in gastroenterology, paediatrics and urology. During this time, Nika Pharm has become a leader in several key segments, including decongestants, and has shown strong and sustainable growth by replacing imports with high-quality local production.
The project will help to expand Nika Pharm’s manufacturing base, improve its sustainability and efficiency, and lead to an average 140 per cent increase in the company’s production of generic pharmaceuticals and prescription drugs. Together with GMP certification, this will allow Nika Pharm to strengthen its position both domestically and regionally.
Uzbekistan’s rapidly growing pharmaceuticals market, which is set to expand by a further 10 per cent by 2029, is dominated (around 75 per cent) by imported medicines. The project will help contribute to the government’s plan of eventually bringing the share of locally produced pharmaceuticals to 80 per cent.
The EBRD has invested over US$ 6.6 billion in Uzbekistan to date through 196 projects, with the majority of those funds supporting private entrepreneurship, contributing to the country’s economic development.
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