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Ukraine
As Ukraine simultaneously manages the consequences of an ongoing war and pursues an ambitious reform agenda on the path to EU membership, AFD Group — through AFD, Proparco and Expertise France — stands as a committed partner for the country's resilience and long-term reconstruction. Since opening a permanent office in Kyiv in July 2024, the Group has been working closely with Ukrainian authorities, local governments, financial institutions and civil society to respond to the country's needs.
Context
Ukraine occupies a strategic position at the crossroads of Europe and the former Soviet space, and its future trajectory carries significant implications for the stability of the continent. Russia's war of aggression, launched in February 2022, has made this reality all the more acute, causing massive destruction of infrastructure, displacing millions of people, and severely straining the capacity of cities and regions to maintain basic public services.
Yet in the midst of the war, Ukrainian authorities have demonstrated a clear commitment to advance the country's long-term transformation. Since being granted EU candidate status in June 2022, Ukraine has pursued an ambitious reform agenda, modernizing governance, strengthening the rule of law, decentralizing powers, and progressively aligning with European standards, reflecting a vision that goes well beyond the immediate demands of the war.
It is within this dual imperative — crisis response and structural transformation — that AFD Group situates its engagement in Ukraine, as a long-term partner committed to accompanying the country through reconstruction and towards European integration.
Our approach
Supporting the reconstruction and European future of Ukraine
AFD's mandate in Ukraine focuses primarily on local authorities - municipalities which, at the forefront, have seen their infrastructure damaged and their services severely weakened. AFD works alongside with them in various sectors to restore and improve access to water and sanitation, urban transport, healthcare and municipal facilities., through grant financing and non-sovereign loans. As of March 2026, AFD total commitments to rebuilding cities have reached around EUR 65 million.
These interventions draw on three complementary modalities:
- direct investment projects with major Ukrainian municipalities;
- intermediary financing through Ukrainian public banks, to reach medium-sized and smaller cities;
- support to public enterprises at both central and municipal levels.
AFD also encourages decentralized cooperation partnerships between French and Ukrainian local authorities, strengthening concrete solidarity between our two countries.
AFD draws on European Union support under the Ukraine Investment Platform (UIF) to scale up its operations, including EUR 83 million in grants for Ukrainian municipalities through the MISTO program.
Expertise France, AFD Group's subsidiary specialized in international technical cooperation, has been present in Ukraine for more than ten years. Since 2022, its activities have been considerably scaled up to support the European integration process and the structural reforms being pursued by Ukrainian authorities. In 2026, Expertise France is implementing 20 projects - 17 national and 3 regional - financed by French and European funds, for a total amount of over EUR 70 million.
These projects span seven priority sectors:
- health and social protection;
- rule of law and justice;
- local governance and decentralization;
- innovation and private sector support;
- economic and financial governance;
- defence and security;
- sustainable development.
The private sector plays an essential role in Ukraine's economic resilience and in the country's capacity to ensure lasting prosperity for its population. Proparco, the AFD Group subsidiary dedicated to private sector financing in developing and emerging economies, supports Ukrainian economic actors in their reconstruction and development efforts, with a view to deepening economic ties with European partners. As of March 2026, Proparco’s current portfolio comprises four transactions for a combined commitment of approximatively EUR 100 million.
Its work in Ukraine is structured around four priorities:
- supporting Ukrainian financial institutions in developing their SME portfolios;
- financing companies in the agri-food and energy sectors;
- supporting trade finance activities to facilitate imports and exports;
- backing investment funds providing the capital needed to resume business activity or support high-performing new ventures.
Since the outbreak of the war, Ukrainian civil society organizations (CSOs) have played a central role in the country's resilience: maintaining essential services, protecting vulnerable people, defending fundamental rights, and preserving social and democratic cohesion. AFD Group supports these actors by funding projects led by French and Ukrainian CSOs — whether initiatives deployed specifically in Ukraine or regional programs with a dedicated Ukrainian component
Since 2009, AFD has committed more than EUR 2.7 million through 7 projects in support of Ukrainian civil society. The interventions cover priority areas including energy resilience for essential facilities, child protection and mental health, human rights and gender equality, and press freedom and independent information.
Projects
News & Press Releases
Key figures
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€400 million in loans available over the period 2024-2027
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74 AFD Group employees present in Ukraine
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18 technical cooperation projects currently being implemented by Expertise France for more than €61,6M