Ukraine’s Nadezhda gets $15m loan from World Bank’s IFC

Nadezhda, wholesale and retail distributor of petroleum products especially liquefied petroleum gas (LPG) in Ukraine, has secured loans worth $15 million from the World Bank Group’s International Finance Corporation (IFC).

The multimillion-dollar grant will finance the expansion and modernization of more than 50 Nadezhda petrol stations, according to an Interfax report.

It will also create a network of stations that offer different varieties of fuel especially LPG, said Nadezhda CEO and co-owner Viktor Batrachenko.

The company is the second largest LPG distributor in the Ukraine.

Rufat Alimardanov, head of the IFC regional office in Ukraine and Belarus, said that the financial support is in line with the IFC mission to boost infrastructure development in the country and increase access to high quality and environment-friendly fuel.