Asian markets retreat on Thursday    US Fed cuts interest rate to 3.5–3.75%    Oil prices steady on Thursday    Deli Group breaks ground on new factory in 10th of Ramadan City    UN rejects Israeli claim of 'new Gaza border' as humanitarian crisis worsens    Egypt's Cabinet approves development of Nasser Institute into world-class medical hub    Egypt reports sharp drop in waste burning incidents during autumn 2025    Servier Egypt launches Tibsovo as first targeted therapy for IDH1-mutated cancers    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt, EBRD discuss boosting finance in petroleum, mining sectors    Egyptian Cabinet prepares new data law and stricter fines to combat misinformation    Egypt's exports rise 28.2% in September 2025 as trade deficit narrows    UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list    Egypt's Abdelatty urges rapid formation of Gaza stability force in call with Rubio    Blair dropped from US Gaza governance plan after Arab objections    Egypt calls for inclusive Nile Basin dialogue, warns against 'hostile rhetoric'    Egypt, China's CMEC sign MoU to study waste-to-energy project in Qalyubia    Egypt joins Japan-backed UHC Knowledge Hub to advance national health reforms    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EBRD provides €70m loan to Ukrainian postal sector
Aya El Sayed Published in Amwal Al Ghad on 13 - 08 - 2024

The European Bank for Reconstruction and Development (EBRD) announced on Tuesday a €70 million loan to Nova Post, Ukraine's leading private postal and courier operator, to support its 2024 investment programme.
"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, in a statement.
EBRD's loan will help Nova Post enhance its customer service model, improve safety measures, and expand its operations amid ongoing conflict.
EBRD's Sustainable Infrastructure Group Managing Director Nandita Parshad emphasised the loan's broader benefits, including safety, veteran reintegration, and expanded training opportunities for women.
The EBRD financing will be provided in Ukrainian hryvnia or euros, with a 10 per cent first-loss guarantee from the Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience (UIF MIIR) programme.
Nova Post plans to use the funds to expand its parcel locker network, update post offices and terminals, and build safety shelters across Ukraine.
The loan also includes technical support to improve human resources policies and create employment opportunities for women, return migrants, and veterans. Nova Post, a key player in Ukraine's recovery since the outbreak of the Russian war, operates over 30,000 service points and employs around 33,000 staff.
The EBRD is Ukraine's largest institutional investor, having committed €4.5 billion since 2022 and planning further investments.
Attribution: EBRD statement
Sub-Editing: Y.Yasser

Clic here to read the story from its source.