The European Bank for Reconstruction and Development (EBRD) is supporting Ukraine’s food retailer Novus Group with a $100 million financing package to facilitate the construction or refurbishment of more than 30 new Novus stores by the end of 2022, which will almost double the total number of the retailer’s supermarkets across Ukraine.
The press service of the bank said on Aug. 28 that up to $35 million will be syndicated to commercial banks. Grant funding for the project was provided by Japan and by the European Union through the EBRD Finance and Technology Transfer Center for Climate Change (FINTECC).
According to the press release, the financing will facilitate the construction or refurbishment of more than 30 new Novus stores by the end of 2022 and to build the first green distribution center – a state-of-the-art logistics facility compliant with Building Research Establishment Environmental Assessment Method (BREEAM) principles for the construction of environmentally sustainable buildings.
Novus said in a press release that the area of the distribution center will exceed 40,000 square meters. The company expects that the opening of the center will improve the chain of food supplies to supermarkets, save time, and optimize logistics.
Novus Ukraine LLC was established in 2008, the same year the first Novus supermarket in the country was opened. The Novus supermarket chain is developed by BT Invest (Lithuania).
