The European Bank for Reconstruction and Development (EBRD) has opened a 35 million USD credit line for the OKKO network for 7 years. The funds will be used to finance the company's capital expenditures and meet its working capital needs, which will allow OKKO to develop both started and new projects.
In particular, thanks to the funds raised, the company plans to expand its forward program to provide agricultural producers of Ukraine with material and technical resources, namely: fuel, mineral fertilizers, natural gas, finance, etc. Also, part of the credit income will be used to improve the logistics infrastructure, as well as to improve the network of filling stations.
"The history of our company's cooperation with the EBRD is almost 20 years old. Thanks to the financial support of such leading international institutions, OKKO has grown from a small regional enterprise to a holding company on a national scale. The EBRD's readiness to continue this partnership, to invest in projects in Ukraine is an important positive signal not only for us, but also for all national businesses", commented the signing of the loan agreement, the founder of OKKO Group Vitaliy Antonov.
It is worth mentioning that the first loans from the EBRD were received by the OKKO network in 2002-2003 within the framework of the program of small and medium business support in Ukraine launched by the bank. The size of these loans was relatively small (1.2-1.3 million USD each), but they made it possible to build several modern filling stations in Kyiv and Western Ukraine and gain a foothold in these markets. Today, the total amount of OKKO loan financing from the EBRD has already exceeded 270 million USD. In 2009, the European Bank for Reconstruction and Development became a shareholder in OKKO, becoming its minority co-owner.
As previously reported by the press service of OKKO, in July 2020, a credit line for a company with a capacity of 35 million USD was also opened by the International Finance Corporation - a division of the World Bank Group.