During the fourth Ukraine Recovery Conference 2025 (URC), which took place on 10–11 July in Rome, Ukrainian banks concluded a record number of agreements with foreign partners totaling almost EUR 1.5 billion. Among the leaders were PrivatBank, Ukrgasbank, Ukreximbank, Oschadbank, Credit Agricole Ukraine, Bank Lviv, Piraeus Bank, and Kredobank.
“This proves that the Ukrainian banking system is in a good condition, and that it is trusted and considered a powerful instrument to support the Ukrainian economy. After all, all these funds will be used to lend to Ukrainian businesses, finance social initiatives, develop municipalities, improve energy efficiency of communities, and more,” commented NBU Governor Andriy Pyshnyy.
PrivatBank
PrivatBank has signed an agreement with the European Bank for Reconstruction and Development (EBRD) on a credit line that will cover part of the bank’s credit risk on new sub-loans. The EBRD’s guarantee of EUR 185 million will unlock record financing and enable Ukrainian businesses to receive up to EUR 600 million in new loans.
Ukrgasbank
Ukrgasbank concluded a similar agreement with the EBRD: a EUR 89.2 million guarantee will unlock up to EUR 300 million in new loans.
Ukrgasbank concluded three more agreements with the European Investment Bank (EIB), which, together with the European Commission, launched a new financial package of EUR 600 million to support Ukraine. The funds will be used for Ukraine’s recovery, with a focus on energy, infrastructure, and private sector development. Most of the financing will come in the form of EIB loans backed by EU guarantees.
A EUR 70 million credit line will be used to finance Ukrainian small and medium-sized enterprises (SMEs). A special emphasis will be placed on supporting green investments, which is in line with Ukrgasbank’s long-term strategy as the country’s leading eco-bank.
This financing is further strengthened by a EUR 31.25 million portfolio guarantee, which will significantly increase the bank’s ability to lend and raise critical capital for the private sector. Another EUR 50 million loan will be provided by the EIB to Ukrgasbank to finance municipalities to invest in modern decentralized heat generation, integration of renewable energy sources, and significant energy efficiency improvements in public buildings.
Ukreximbank
Ukreximbank has signed a letter of intent to conclude a financial agreement worth EUR 100 million with the EIB under the Economic Resilience Support Program II project. The goal of the Program is to increase private businesses’ access to long-term financing for investment projects and working capital needs of SMEs and mid-cap companies.
Oschadbank
Oschadbank has entered into a financial agreement with the EIB to receive a EUR 50 million credit line under the Ukrainian Investment Program, which is part of the Ukraine Facility. The purpose is to ensure that Ukrainian municipalities, utility companies, and public authorities have access to long-term financing for critical heating and energy efficiency projects.
Oschadbank also attracted financing from Ukraine-Moldova American Enterprise Fund for the second wave of the Create grant program for women to the total amount of EUR 1 million to support female entrepreneurs in the manufacturing sector. The program was launched by the Ministry of Economy of Ukraine and Ukraine-Moldova American Enterprise Fund in 2024. The initiative is being implemented by KSE Foundation in partnership with Aurora multimarket chain and Oschadbank. The second phase of the program started in 2025.
Credit Agricole Ukraine
The bank has signed a EUR 100 million risk-sharing agreement with the International Finance Corporation (IFC) to increase lending to medium and large businesses in various sectors of the economy, such as agribusiness, manufacturing, energy, and logistics, as well as to support Ukraine’s energy security.
Bank Lviv
Bank Lviv has agreed with the EIB on a EUR 60 million loan to finance SMEs and a guarantee agreement that will unlock even more financing for small Ukrainian businesses. A loan agreement has been announced with the Council of Europe Development Bank (CEB) to support creation of jobs.
With the participation of the Ministry of Foreign Affairs of Ukraine, Bank Lviv signed a letter of intent with the Belgian government and Belgian company BIO Invest to conclude a EUR 5 million agreement to support SMEs in Ukraine. This agreement will play an important role in creating jobs, maintaining social cohesion, and strengthening national stability.
Kredobank and Piraeus Bank
Kredobank and Piraeus Bank have signed letters of intent with the EIB to conclude guarantee agreements (for EUR 30 million) to support the portfolio of new SME loans. Such guarantees open up new opportunities for Ukrainian banks to lend to SMEs, particularly in the area of sustainable development and green investments.
Business Development Fund
The Business Development Fund (BDF) has signed a grant agreement with the German development bank KfW for EUR 40.5 million as part of the SME Resilience Facility project. The project will focus on supporting the resilience of entrepreneurs from the de-occupied and war-affected areas, where lending risk is the highest. This financing will become the BDF’s new program, which will be combined with the state program Affordable Loans 5–7–9% to support businesses that, despite the challenges of war, continue to work, create jobs, and rebuild their communities. The project will be implemented in partnership with the Ministry of Finance of Ukraine and partner banks.
URC 2025 has become one of the largest recovery conferences since 2022, both in terms of the number of participants and the number of deals. The conference brought together more than 30 state leaders, a total of more than 6,000 participants from 70 countries and 43 international organizations, hundreds of companies from different countries, political and public leaders, and more than 500 media representatives. As a result of the URC, 200 various arrangements (agreements and memorandums) were signed for a total of about EUR 13 billion.
Main results:
- The creation of a EUR 500 million European Flagship Fund for the reconstruction of Ukraine announced by the European Commission
- EUR 2.3 billion of additional investments in the restoration of the housing, healthcare, and energy sectors, as well as support for small and medium-sized businesses under the investment component of the Ukraine Facility program
- A new USD 200 million World Bank program to prepare state and municipal reconstruction projects. Separately, USD 50 million in grants to help Ukrainian farmers
- USD 188 million from Japan for the green modernization of Ukrainian industry
- European Investment Bank: EUR 134 million for the restoration of transport infrastructure; EUR 200 million to support and develop Ukrainian hydropower facilities
- Council of Europe Development Bank: financing of housing certificates under the eVidnovlennia program. The deal is worth EUR 100 million. In addition, the CEB will provide a EUR 200 million loan to finance a program to support internally displaced persons
- A USD 200 million initiative to restore heat and water supply to Ukrainian homes launched by Norway
- About EUR 5 billion to be invested in Ukraine by Switzerland over the next 10 years to help restore various sectors of the economy
- About USD 2.3 billion in loans from the UK to strengthen Ukraine’s air defense, as well as agreements between defense companies on joint production and cooperation.