The European Bank for Reconstruction and Development (EBRD) is providing a €70 million loan to Nova Post, a top private postal and courier service in Ukraine, to support its 2024 investment initiatives.
Arvid Tuerkner, EBRD’s Managing Director for Ukraine and Moldova, highlighted that the loan will bolster the company's long-term strategy, aimed at transforming its customer service model while ensuring the safety of both employees and customers amidst the ongoing conflict.
Nandita Parshad, Managing Director of the EBRD’s Sustainable Infrastructure Group, noted that this project offers benefits beyond commercial gains, including enhanced safety measures, support for veteran reintegration, and expanded training opportunities for women—critical needs for Ukraine during wartime.
The financing, which can be disbursed in either Ukrainian hryvnia or euros, includes a first-loss guarantee covering 10% of the loan amount, provided by the Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience (UIF MIIR) programme.
Petro Fokov, CFO of Nova Group, expressed that this agreement solidifies the long-standing partnership with the EBRD and acknowledges the significant impact Nova Post has on Ukrainian businesses and the broader economy. He emphasized that the favorable terms of this financing package are unmatched by domestic banks.
The Ukrainian postal and delivery sector, initially disrupted by Russia's invasion in 2022, has seen a rapid recovery, particularly in the parcel delivery segment, largely driven by Nova Post's resilience and expansion efforts. The company plans to further its growth by expanding its parcel locker network, upgrading post offices and terminals, and developing safety infrastructure across its locations.
To address workforce challenges, the EBRD will provide technical support to enhance human resource policies, focusing on improving return-to-work pathways for veterans and increasing training opportunities for women, return migrants, and others, with support from the EBRD’s Action for Equality and Gender Multi-Donor Fund.
Nova Post, the primary subsidiary of Nova Group, operates a network of over 30,000 service points across Ukraine, employing around 33,000 staff and serving over 11 million clients monthly. In 2023, the company delivered more than 412 million shipments.
The EBRD remains Ukraine’s largest institutional investor, having invested €4.5 billion in the country since 2022, with plans for an additional €4 billion capital increase to sustain lending during the ongoing conflict and further investment once reconstruction begins.
