The #EBRD has recently granted Ukraine’s largest privately owned #postal company #NovaPoshta a seven-year #loan of EUR 9.5 million. In particular, the funds will be used to #finance the #improvement of postal #logistics #infrastructure in #Ukraine. Moreover, in this project, the EBRD is also aiming to #reduce #carbon #dioxide #emissions.
Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities
The European Bank for Reconstruction and Development (EBRD) grants Nova Poshta, a limited liability company and the largest privately owned postal company in Ukraine with 2,300 branches across the country, a seven-year EUR 9.5 million loan for the purpose of improving the postal logistics infrastructure in Ukraine and promoting logistics innovation, as the EBRD reported in a press release on its website. Disbursements are available both in euro and Ukrainian hryvnia, which makes this loan one of the first multi-currency loans granted by EBRD to the Ukrainian companies.
In particular, the EBRD will provide funding to support constructing a new automated parcel sorting terminal in Khmelnytskyi (western Ukraine); introducing advanced automated parcel sorting technology by the end of 2019 (funded under the Financial and Technology Transfer Center for Climate Change (FINTECC) program); improving the fleet utilization on intercity routes by 25 percent by the end of 2020; reducing annual carbon dioxide emissions by 1,570 tonnes by the end of 2020.
The project is part of the EBRD’s strategy to promote investment in the modernization of postal infrastructure in Ukraine. In this undertaking, the EBRD is also working to ensure that development and environmental goals are pursued as a whole.
Moreover, Nova Poshta will be supported with a USD 225,000 grant under the Financial and Technology Transfer Center for Climate Change (FINTECC) program, which aims to help adapt to climate change and global warming and contributes to global environmental protection. In particular, the FINTECC grant is intended to help apply the best international standards for energy efficiency and reduce CO2 emissions. Funding for the three-year FINTECC program launched in Ukraine in February 2016 consists of a contribution of USD 7 million provided by the Global Environment Facility (GEF) and a EUR 4 million contribution made by the European Union.