Nova Poshta LLC raised a $20 million loan from Credit Agricole Bank to buy out a cargo and mail terminal in Lviv region to improve the company's logistics capacity in western Ukraine.

"The loan term is five years. The money will be used to develop the logistics hub in Lviv," Nova Poshta said in a statement on Monday.

It is specified that the loan funds will also be used for automation and installation of new modern sorting lines, which will triple the hub's capacity.

"This is not the first loan for Nova Poshta from Credit Agricole Bank, and the new agreement is a consistent development of our strategic cooperation. When the time comes to finance large-scale international projects, we want to have a reliable credit reputation with leading European banks," CFO of the NOVA Group Petro Fokov said in the press release.

Nova Poshta LLC, the largest logistics operator in Ukraine from the NOVA Group, intends to acquire Nova Develop LLC (Sokilnyky village, Lviv region), whose main activity is the leasing and operation of its own or leased real estate.

As reported, at the end of February 2024, the Antimonopoly Committee of Ukraine granted Nova Poshta permission to purchase over 50% in Nova Develop, the legal successor of Best Logistic Group, which was engaged in the construction and leasing of logistics complexes and was part of the full-cycle development holding Globus.