The European Bank for Reconstruction and Development (EBRD) will provide a loan of EUR 25 million to the home appliance and electronics retailer Comfy (LLC "Comfy Trade") for the expansion of its network.
According to a statement on the EBRD website, the total project cost will amount to EUR 34.3 million. The bank's loan will be supplemented by a grant of EUR 500,000 from the Japan-EBRD Cooperation Fund (JECF), with up to EUR 75,000 coming from the multilateral donor fund Action for Equality and Gender (A4EG).
It is noted that the project aims to enhance inclusivity and energy efficiency in the business.
"The project will assist the company in modernizing its human capital management systems, expanding employment and training opportunities for war veterans, women, and other hard-to-reach groups. Additionally, the working capital financed by the EBRD will be used for the procurement of energy-efficient home appliances," the project description states.
Furthermore, the project will receive first-risk insurance from the European Union through the Ukrainian Investment Fund (UIF).
According to Opendatabot, the owner of LLC "Comfy Trade" is the Cypriot Comfy Holdings Limited (100%), with Stanislav Ronis and Svitlana Hutsul as the ultimate beneficiaries. By the end of 2023, the company increased its revenue by 66%, reaching 27.6 billion UAH, and net profit rose to 40.3 million UAH compared to 2 million UAH in 2022. As of November 2024, the offline Comfy network comprises 109 stores.