How Ukrainian banks are helping businesses and the public cope with the aftermath of Russia’s attacks
5 June 16:35
By signing a memorandum in June 2024, Ukrainian banks actively joined efforts to restore energy infrastructure damaged by the Russian Federation’s massive attacks. They provided financing for business and public projects totaling 50.6 billion hryvnia across 21 regions of Ukraine.
This was reported by the National Bank of Ukraine, according to "Komersant Ukrainian".
The National Bank of Ukraine reported that from June 1, 2024, to May 25, 2026, banks provided over 4,500 loans to businesses totaling 47.2 billion hryvnia, as well as over 18,000 loans to individuals totaling 3.4 billion hryvnia.
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Project Implementation Areas
Banks are actively financing projects for the development, reconstruction, and restoration of power generation. The total capacity of these projects is 1.763 GW.
The main areas of financing include:
- Solar power plants (SPPs)
- Gas-fired power plants
- Hydro, bio, and wind power plants
In addition to generation, banks are also investing in energy storage projects, such as the creation of storage systems, the purchase of inverters and batteries, and the modernization of thermal equipment, with a total capacity of 715 MW.
It is worth noting that previously issued loans are being gradually repaid. As of the end of May 2026, the gross portfolio of “energy” loans to legal entities amounted to UAH 30.5 billion, and to individuals—UAH 2.6 billion.
Lending Terms
Starting in June 2024, 20 banks, which hold over 85% of the sector’s net assets, signed a memorandum of understanding to finance the energy sector’s recovery. The base lending rate under this memorandum is 13.5% per annum.
In February 2026, the terms for financing investment projects were updated, making loan products more flexible and expanding opportunities for businesses. To date, 53 signatories have joined the memorandum, underscoring its importance and relevance.
As a reminder, the National Development Agency (NDA) previously launched the program “Moving Forward: Grants and Consulting for Microenterprises.” Certain categories of entrepreneurs can receive up to 8,000 euros in grant support for the development or restoration of microbusinesses in the regions of Ukraine most affected by the war.
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