IFC will issue $15 mln loans to Nadezhda fuel station chain
The International Finance Corporation (IFC) will provide Nadezhda company (Poltava), a large Ukrainian distributor of liquefied natural gas and a local supplier of oil products, with debt financing totaling $15 million to expand and modernize the existing network of more than 50 fuel filling stations.
"Our strategy is to create a large network of multi-fuel stations focusing LPG. This will improve the level of service and availability of high quality fuel," Nadezhda CEO and co-owner Viktor Batrachenko said.
According to him, IFC financial support will help the company expand its network in Kyiv and other Ukrainian regions.
Head of the IFC regional office in Ukraine and Belarus Rufat Alimardanov added this project is part of a wider IFC operation aimed at promoting the development of infrastructure throughout Ukraine and increasing access to high quality and environmentally friendly fuel.