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EBRD to loan UAH 135mn for Rukavychka food retail chain expansion

EBRD to loan UAH 135mn for Rukavychka food retail chain expansionThe European Bank for Reconstruction and Development (EBRD) is extending a hryvnia-denominated loan of UAH 135 million (an equivalent of $5 million) to Rukavychka group, a major food retailer operating 110 convenience stores in western Ukraine for the expansion of the company’s operations.

"A six-year loan by the EBRD will support Rukavychka’s investment program, which envisages the opening of 42 new stores across western Ukraine by the end of 2018, modernization and energy efficiency improvements in the existing stores and the development of a logistics centre," the bank said.

The project will also benefit from an incentive grant of almost $200,000 extended under the EBRD Finance and Technology Transfer Centre for Climate Change (FINTECC) program designed to transfer technology in the area of climate change mitigation and adaptation, launched in Ukraine in February 2016.

"The grant to the Rukavychka group will cover the introduction of a wide range of energy efficiency measures including the installation of heat recuperation systems and biomass boilers as well as the replacement of the existing cooling compressors and other equipment in the stores of the Rukavychka chain," the bank said.

The bank said that the EU4Business Initiative groups together all the EU support for small and medium-sized enterprises in the region of the Eastern Partnership which brings together the EU, its member states and six partner countries: Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.

Lvivkholod trade and industrial company LLC, founded in 2004, develops the Rukavychka store chain.

As of January 20, 2017, the chain had 110 supermarkets in Lviv, Ternopil, Ivano-Frankivsk, Khmelnytsky and Rivne regions.
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