Nova Poshta and Credit Agricole Bank have entered into a USD 20 million loan agreement. The loan will be repaid over a five-year period and will be used to expand the company’s logistics capacities in the west of Ukraine.
Specifically, these funds will be used to purchase two terminals in the Lviv region - one for postal operations and one for cargo - in order to further expand their capacity. Furthermore, the loan will be used to automate and expand the operational capacities of the terminals, with the installation of new, modern sorting lines planned. This should result in a threefold increase in the hub's capacity.
"NOVA Group has a large investment program and is continuously seeking optimal financing sources. This is not the first loan from Credit Agricole to Nova Poshta, and the new agreement represents a further strengthening of our strategic partnership. Given that the bank is headquartered in France and that we have recently opened our first branch in France, this cooperation will also have implications for our future development in the EU. When the time comes to finance large-scale international projects, we want to have a reliable credit reputation with leading European banks," says Petro Fokov, CFO at NOVA Group.
"Credit Agricole Group maintains an active presence in the country, offering ongoing support for the development and recovery process. We highly value long-term relationships and are pleased to contribute to the growth of our customers' businesses in Ukraine and abroad. Our goal is to make modern delivery services accessible to as many people as possible, and to establish the brand of Ukraine and Nova Poshta as a reputable presence on the international stage. Credit Agricole is one of Ukraine's top 10 banks and has been a reliable partner for Ukrainian businesses for 31 years. The bank offers its customers the benefits of high-quality European service and financial solutions in Ukraine and in other countries where it has a global presence," commented Igor Kuropiy, Head of International and Large Corporate Banking at Credit Agricole Bank.
