Translated version of this PSD: Ukrainian
The EBRD is considering providing a working capital loan to Viterra Ukraine, a subsidiary of Viterra Inc, Canada for the procurement of agricultural commodities.
The expansion of operations of an international reputable player such as Viterra in Ukraine is expected to contribute significantly to backward and forward linkages (and associated skills transfers) and the demonstration of new replicable behaviour/activities.
Viterra Inc. is a global agri-business headquartered in Canada and holds a strong market position as an originator and exporter of key agricultural commodities. The Company’s traditional regions of operations are North America and Australia. Viterra also has a network of international grain marketing offices in Asia, Europe and North America and is a relatively new player in the Eastern Europe.
US$ 30 million
The Project has been categorised B in accordance with the EBRD Environmental and Social Policy 2008. No significant adverse environmental and/or social impacts are expected in association with the use of working capital for the procurement of agricultural commodities.
Environmental and social due diligence (ESDD) has been undertaken by the Bank’s Environment and Sustainability Department based on a review of all available information, a, review of corporate management systems and interviews with the Company’s representatives.
A review of the Company’s corporate management system showed that it has well established integrated EHS management systems that have been developed in line with good international practice and are implemented throughout their operations. Coordination, oversight and monitoring functions provided by the Corporate Centre seek to ensure consistency of approach and management of key EHS issues for new projects and operational activities.
The Company’s due diligence and risk assessment processes already cover most of EBRD’s PRs. The Company has demonstrated its commitment to implement the Project to applicable national, high international environmental standards and EBRD's PR6 in relation to the potential use of GMOs.
An Environmental and Social Action Plan (ESAP) has been developed and agreed with the Company to ensure that the Company is in compliance with national regulations and the Bank’s PRs.
The Bank will monitor the projects and the Company’s environmental and social performance and implementation of the ESAPs through annual E&S reports.
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Phone: + 1 403.718.6260
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