EBRD to lend Ukraine's Nova Poshta 70 mln euros

MOSCOW. July 22 (Interfax) - The European Bank for Reconstruction and Development will provide a loan of 70 million euros to Ukraine's Nova Poshta LLC (Nova Post) to carry out its 2024 investment program, Ukrainian media reported, quoting an EBRD statement.

The company's investment program provides for the expansion and modernization of parcel terminals and the branch network, the purchase of new equipment and implementation of security measures. The total cost of the project is estimated at 94.1 million euros.

Nova Poshta LLC, a Ukrainian express delivery company, was established in 2001. The company has 11,400 offices and 15,500 parcel lockers. Revenue grew 50% to UAH 43.65 billion and consolidated net profit 31.1% to UAH 4.28 billion in 2023.