Translated version of this PSD: Ukrainian
The EBRD is considering providing a loan of up to USD 50 million to Nibulon Ltd, a leading Ukrainian agricultural producer and grain trader, to finance its investments in grain infrastructure in Ukraine.
The proposed project is expected to have a substantial demonstration effect and will result in a further development of grain infrastructure in Ukraine including the revival of transportation and grain infrastructure on the Dnieper river. Additional grain handling and storage facilities will improve grain quality and its collection in the region and will also provide access to additional quality storage facilities for farmers.
Nibulon Ltd is largest local grain exporter and one of the largest vertically integrated agricultural companies in Ukraine.
Up to USD 50 million term loan.
Approximately USD 112.4 million.
Categorised B (2008). The adverse environmental and social impacts associated with the Project are site-specific and can readily be identified and addressed through mitigation measures.
An Environmental and Social Audit of the Company's management practices and current operations and an Analysis of potential E&S issues associated with the proposed Project was carried out by independent consultants.
The due diligence confirmed that the Company's operations are in general in compliance with Ukrainian legislative requirements and the proposed project will not have any significant adverse environmental impacts or socio-economic impacts. The main potential environmental issue associated with the project will be the dust emissions, which can be eliminated by the proposed mitigation measures.
Based on the due diligence results, an Environmental and Social Action Plan (ESAP) has been developed by the Consultants to address the current and potential future environmental and social issues and to further improve the Company's environmental and social performance to achieve the EU standards. The ESAP covers both corporate management system issues and site specific non-compliance issues associated with the current operations of the Company. The main items in the ESAP are related to dust control and monitoring; soil and groundwater contamination investigations at sites with long industrial history; and hazardous material handling and storage.
The Company will establish and implement monitoring procedures to measure compliance with environmental and social requirements, as well as implementation of the ESAP and the Contractor monitoring provisions. EBRD will be monitoring the E&S performance of the Company through annual reports.
The environmental and social information on the project will be disclosed in accordance to the EBRD requirements at locations accessible to project affected public and through the Company website (www.nibulon.com).
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