The International Finance Corporation (IFC) will provide Ukraine’s Nadezhda LPG, a wholesale and retail distributor of LPG, gasoline, and diesel fuel, with a $15m loan to finance the expansion and upgrading processes of the company’s existing network of more than 50 retail stations in Kyiv and other Ukrainian regions, reported Petrol Plaza.

Nadezhda CEO and Co-owner, Viktor Batrachenko, was quoted by Interfax-Ukraine saying: “Our strategy is to create a large network of multi-fuel stations focusing on liquefied petroleum gas (LPG). This will improve the level of service and availability of high quality fuel,”

According to the IFC Projects Database, Nadezhda, the second largest LPG distributor in Ukraine, currently operates a total of 80 filling stations and aims to acquire or construct 17 more, mostly LPG, fuel stations.

Petrol Plaza added that the Head of the World Bank Group’s IFC regional office in Ukraine and Belarus, Rufat Alimardanov, said that the financial support is in line with the IFC initiative to boost Ukraine’s infrastructure development and increase the residents’ access to fuels that are both environmentally friendly and of high quality.