The European Bank for Reconstruction and Development (EBRD), subject to closing conditions, is set to invest up to €60 million in the Amber Dragon Ukraine Infrastructure Fund I (ADUIF), a new investment vehicle dedicated to rebuilding and modernising Ukraine’s infrastructure. ADUIF, the first infrastructure fund of its kind in Ukraine, has already attracted approximately €200 million in commitments, representing more than 55 percent of its target size of €350 million. A signing ceremony took place at Ukraine House Davos during the World Economic Forum Annual Meeting.
In addition to the EBRD, the Fund is expected to receive commitments from the European Investment Bank (EIB), the International Finance Corporation (IFC), Swedfund, Impact Fund Denmark, and the fund sponsors Amber Infrastructure and Dragon Capital. The high level of early commitments reflects strong investor confidence in the Fund’s strategy and the long-term potential of Ukraine’s infrastructure sector. ADUIF will focus on deploying capital into renewable energy, transport, and digital infrastructure—sectors critical to Ukraine’s resilience and reconstruction. The country’s rebuilding efforts are expected to require at least an estimated US$524 billion. By targeting projects in energy generation, sustainable transportation, and digital infrastructure, the Fund aims to strengthen energy security, improve connectivity, and support Ukraine’s long-term economic recovery.
Greg Guyett, EBRD First Vice President, said, “Ukraine’s infrastructure has faced unprecedented challenges during wartime, and rebuilding it to modern, sustainable standards is central to the country’s reconstruction planning. By supporting Amber Dragon Ukraine Infrastructure Fund I, the EBRD is reinforcing its commitment to Ukraine’s resilience while promoting private sector participation in critical sectors.”
Amber Infrastructure and Dragon Capital bring complementary strengths to the Fund. Amber Infrastructure has extensive experience in global infrastructure investment, including projects across central and eastern Europe, with oversight of around €1 billion in investments. Dragon Capital has decades of investment experience in Ukraine and has invested over $100 million in the Ukrainian economy since Russia’s full-scale invasion in 2022, demonstrating a sustained commitment to the country’s economic future.
The EBRD has a long-standing partnership with Dragon Capital, including a recent US$25 million investment in the Rebuild Ukraine Fund to support SMEs and mid-cap businesses, as well as joint work on renewable energy projects such as power generation and battery storage facilities. Since the start of Russia’s full-scale war in 2022, the EBRD has substantially increased its investments in Ukraine, deploying more than €9 billion to support energy security, vital infrastructure, food security, trade, and the private sector, making it the country’s largest institutional investor.
Subscribe to get the latest posts sent to your email.
