Fozzy Group has secured €55m (US$60m) financing from the EBRD for the renovation of its retail portfolio, featuring 41 Silpo supermarkets and 29 Fora convenience stores. In the context of the investment programme, Fozzy Group will also launch the first “green” supermarket in Ukraine, which will be fully compliant with Building Research Establishment Environmental Assessment Method (BREEAM) principles for the construction of environmentally sustainable buildings.
The loan is supported by the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) programme with a grant of €278,487 (US$303,600) provided by the Global Environment Facility (GEF). The grant covers energy and resource efficiency improvements in the group’s first “green” store, including heat supply from a ground heat pump, Freon-free refrigerators, onsite renewable electricity generation and waste-reduction activities. In addition to these objectives and with the help of the EBRD, Fozzy Group will also improve its safety management systems for road traffic.
The EBRD is the largest international financial investor in Ukraine. To date, the Bank has made a cumulative commitment of almost €15bn. Fozzy Group is one of the largest trade industrial groups in Ukraine and a leading multi-format retailer (brands such as Silpo, Fora, Fozzy C&C and Thrash), with over 560 outlets around the country. The group’s businesses also include food production, banking and restaurants, as well as logistics, including a postal delivery operator.