Ukrainian supermarket chain Novus has received a $100-million syndicated loan from the European Bank for Reconstruction and Development (EBRD) and other banks, the company announced on Aug. 28.
Novus will get nearly $35 million of the $100 million from commercial banks.
With this money, Novus plans to build 30 new supermarkets across Ukraine and the country’s first eco-friendly warehouse in Kyiv to store goods and deliver them to customers.
Novus, now owned by the Lithuanian investment company BT Invest, is one of the EBRD’s largest clients in the Ukrainian retail market.
Over the past eight years, the EBRD has also signed an agreement with NOVUS to lend the company $75 million, the company said.
The new loans represent a major development for Novus, according to director Mark Petkevich. With the EBRD funding, Novus can expand its chain and build new facilities, like warehouses.
Currently, Novus has nearly 50 stores across the country, employing over 5,500 Ukrainians. In 2019, the company earned Hr 11.5 billion (over $418 million).
In 2020, Novus will likely earn more due to opening new stores and a modern warehouse that will make the delivery of its goods faster.
As one of Ukraine’s largest international financial investors, the EBRD continues to support local businesses. It has already invested over 14 billion euros into the country.
In 2019, the bank invested $56 million into oilseed producer Kernel Group to build four biomass power plants in Ukraine.
That same year, the EBRD also provided 250 million euros to support and finance other solar power projects in Ukraine, including the construction of a 57.6-megawatt solar power plant in Ukraine’s southern Mykolaiv Oblast.
