Kyiv, Ukraine, June 23, 2016—IFC,
a member of the World Bank Group, is providing $15 million in debt financing
to fuel supplier Nadezhda Group, part of efforts to spur economic growth
in Ukraine by making energy supplies more widely available.
The investment will help Nadezhda, which
distributes transportation fuels and specializes in relatively clean-burning
liquefied petroleum gas (LPG), to expand and modernize its network of over
Its expansion will boost access to quality
fuels, including LPG, which is more affordable than other fuels, and help
businesses and residents decrease their fuel costs. Improving operational
efficiency and cutting costs is a priority for businesses in Ukraine as
the country works to recover from a three-year recession.
Victor Batrachenko, Nadezhda’s general
director, said IFC’s financial support would help the company expand its
network in Ukraine’s regions and the capital Kyiv. “Our strategy is to
create an extensive network of multi-fuel stations with a focus on LPG.
This will result in better services and accessibility for good quality
fuels,” he added.
“IFC’s financing will help a leading
local fuel supplier expand its retail operations, thus benefiting customers,
said Rufat Alimardanov, IFC’s Country Manager for Ukraine and Belarus.
“The project fits well with our broader strategy to help develop infrastructure
across Ukraine and expand access to high-quality and cleaner fuels.”
IFC is a leading international investor
in Ukraine’s private sector and this project is part of wider efforts
to boost growth in the country. Since 2004, IFC has invested over $2.2
billion in long-term investment in Ukraine while spearheading an active
advisory services program.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise,
and influence, to create opportunity where it’s needed most. In FY15,
our long-term investments in developing countries rose to nearly $18 billion,
helping the private sector play an essential role in the global effort
to end extreme poverty and boost shared prosperity. For more information,