EBRD reallocates €22.7 million loan to Ukrainian postal service Ukrposhta
July 13, 2023

EBRD reallocates €22.7 million loan to Ukrainian postal service Ukrposhta

On 12 July, the European Bank for Reconstruction and Development (EBRD) announced that it is reallocating €22.7 million of an existing loan to the Ukrainian national postal service, Ukrposhta, to increase the company’s operational resilience despite Russia’s war on Ukraine.

With the reallocated funds, the EBRD will provide Ukrposhta with more than 5,000 e-bikes and around 350 commercial heavy goods vehicles.

The original €63 million loan was agreed in November 2020. Its aim was to finance the modernisation of the company’s logistics infrastructure and operating fleet. However, Russia’s full-scale war on Ukraine, which has made access to customers both harder and more urgent, has changed priorities. 

Last December, the EBRD approved a €4.5 million co-investment grant to support the acquisition of satellite internet terminals and power generators for mobile post office vans. This was made to help people who are facing power cuts as a result of Russian bombing of civilian infrastructure in digital contact, even in remote rural areas.

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