VIP-NET CORPORATE LOAN FACILITY

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 31125

Status Complete

Location

Croatia

Business Sector

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 31125

Status Complete

Location

Croatia

Business Sector

Notice Type

Private

Environmental Category

Approval Date

17 Dec 2002

Disclosure date

15 Nov 2002

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

Proposed EBRD participation in a €150 million syndicated corporate loan to VIP-Net GSM d.o.o., a Croatian GSM operator. The project would allow VIP-Net to consolidate and simplify its existing financing arrangements and contribute to the advancement of an essential, efficient, reliable and user-oriented telecommunications infrastructure in Croatia. The proceeds of the loan would be used to refinance the existing indebtedness of the company and provide additional funds for further development of VIP-Net network in Croatia.

Transition Impact

The project will assist the reform and liberalisation process of the Croatian telecommunications sector by strengthening effective competition in the telecommunications market. It will have a strong demonstration effect for foreign and local investors by supporting foreign direct investments into Croatian telecommunications.

The Client

VIP-Net GSM d.o.o. (“VIP-Net” or the “Company”) is a Croatian limited liability company incorporated in October 1998. Following an international tender, the Company was awarded the second national GSM licence in Croatia on 30 October 1998. Its shareholders are western and Croatian companies. The key sponsors are Mobilkom Austria AG (71%) and Western Wireless Corporation (19%).

EBRD Finance

EBRD will provide a €26 million tranche as part of the €150 million syndicated corporate loan arranged by Bank Austria Creditanstalt AG, which aims to (i) refinance existing project finance parallel loan facilities of the Company; and (ii) provide additional funding for VIP-Net.

Project Cost

€150 million

Environmental Impact

The project was screened as B/0 requiring an environmental analysis. The analysis did not reveal major environmental, health and safety issues. VIP-Net is in compliance with all local and national regulations. The project will not include any construction in protected or sensitive areas. Where installations on apartment building will be required, VIP-Net will inform residents prior to start-up of civil works. The Bank will monitor environmental performance of VIP-Net during the implementation of the project through annual environmental reports. The company will also be required to comply with European Union environmental standards.

Technical Cooperation

None.

Company Contact

VIP-Net GSM Web site: www.vipnet.hr

Transition impact

ETI Score:40

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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