“EBRD” Provides Funds to Ukraine to Expand “Renault” and “Volvo” Dealerships

Friday, August 6, 2021
“EBRD” Provides Funds to Ukraine to Expand “Renault” and “Volvo” Dealerships

The €20 loan shows the EU's readiness to contribute to the development of the green car market in Ukraine

The European Bank for Reconstruction and Development, together with the European Union, is helping to expand the green car market in Ukraine by providing one of the leading Ukrainian car importers, Winner, with a financing package that includes a loan and a guarantee.

The new Renault and Volvo dealerships will be built thanks to an EBRD loan of €20 million for the environmental expansion program. The new dealerships will be designed in accordance with BREEAM or EDGE green building standards, which will improve the company's energy efficiency. The funding will also help the company build its first green repair center in Kyiv.

Today Green buildings are still a rarity in Ukraine — today there is only one building with BREEAM certification for the entire retail sector. Winner will become the first car dealer in Ukraine to receive certification in accordance with green standards.

EBRD managing director for Eastern Europe and the Caucasus Matteo Patrone said: “We are very pleased to join forces with the EU to promote the development of environmentally conscious foreign direct investment businesses in Ukraine. I am especially pleased to see that the company is expanding its activities in the electric vehicle market. This will make streets cleaner and cities more pleasant for pedestrians and cyclists”.

EU deputy directorate-general for neighborhood and enlargement and chair of the support group for Ukraine Kataryna Maternova said: “The European Union is pleased to provide a guarantee for this EBRD private-sector project that will enable an innovative Ukrainian company to invest in green and sustainable growth. This is consistent with the progressive approach that Ukraine has chosen in accordance with the Green Agenda and which the EU welcomes and supports".

As a reminder, Winner Group has previously invested €23 million in the environmental expansion program. In general, the company promotes cleaner technologies and socially responsible corporate policies in the Ukrainian automotive retail sector. Since 1992, the company has already invested over €100 million in Ukraine and is planning significant new investments.

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