The European Bank for Reconstruction and Development (EBRD) has agreed to lend €70 million to help Nova Post, a private Ukrainian postal and courier company, expand and upgrade operations.
The loan aims to help the company expand its parcel locker network by 25% and start running it 24 hours a day, upgrade hundreds of post offices and terminals, develop its branch network and build more than 600 bomb shelters to protect staff and customers during the war, the EBRD said.
“The loan will support the company’s long-term growth strategy, which envisages a transformation of its customer service model while keeping employees and clients safe in wartime,” said Arvid Tuerkner, the EBRD's managing director for Ukraine and Moldova.
The loan can be disbursed in hryvnia or euros and includes a first-loss guarantee covering 10% of the EBRD loan amount, the lender said.
Petro Fokov, CFO of NOVA Group, which owns Nova Post, added that the loan comes "on favourable terms and on a scale which could not be available from most domestic banks."
Nova Post operates more than 30,000 service points with 33,000 staff members in Ukraine and over 11 million clients monthly, according to the EBRD statement. In 2023, Nova Post delivered over 412 million shipments.
