The bank is also lending €30 million to start the modernization of Ukrposhta’s logistics

The bank is also lending €30 million to start the modernization of Ukrposhta’s logistics. Ihor Smilianskyi, General Director of the national postal operator, said the loan is the first part of €100 million in financing for “the largest modernization in the history of Ukrposhta.” This will include a general IT upgrade and building eight sorting hubs and 62 regional depots. “The new logistics centers will be fully automated and moved out of the city, which will significantly speed up the shipping process and improve connections,” he said. Asserting the investments will create 5,000 new postal jobs, he said: “Capacity will increase to three to four times its current levels.”