Translated version of this PSD: Russian
The EBRD is considering a senior secured loan of RUB 1 billion fully for the Bank’s account to support improvement in the logistics and distribution system of Monetka, as well as further development of modern retail to remote regions.
This transaction will enable the Company to support a key area of much needed logistics improvements in Russia, raising standards of food supply chain. It will also facilitate competition in the sector by introducing modern format retailing in small towns in Russia with a population of less than 20,000 where modern retail is not present and this will assist in reducing regional and structural disparities.
OOO RM Group, a limited liability company, a holding company for Monetka’s discounter and supermarket chain in Russia.
RUB 1 billion senior secured loan for the account of EBRD.
RUB 1 billion.
The Project was Categorised B according to the EBRD’s Environmental and Social Policy 2008. The potential adverse future environmental and social impacts associated with the Project are site-specific and readily addressed through mitigation measures.
The Bank's environmental and social due diligence consisted of a site visit by ESD environmental specialist to two discount stores in Ekaterinburg and interviews with key individuals responsible for Environment, Health and Safety, Labour and Human Resources within Monetka and a review of EBRD Corporate E&S Due Diligence questionnaire completed by the Client. The curent environmental, health and safety managemet systems and past and current EHS performance were assessed. Due diligence confirmed that Monetka have adequate systems in place to manage their environmental, health, safety and HR impacts. They are largely compliant with the requirements of the EBRD's Performance Requirements.
Based on the EHSS due diligence an Environmental and Social Action Plan (ESAP) was developed and has been agreed with Monetka to ensure compliance with the Banks PRs. The Company will provide the Bank with regular reporting on the implementation of the ESAP. The Company is committed to comply with all PR's for their ongoing and future activities
The Bank will monitor the Company's environmental and social performance for the lifetime of the project through annual environmental and social reporting and via periodic site visits. The Company will be required to immediately notify the Bank of any incidents or accidents likely to have an effect on the environment or worker and public safety.
Veronika Domnina, CFO
Tel.: +7 343 216-19-70
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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