Eastcomtrans LCS



Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

20 Jul 2022


Passed Final Review, Pending Approval

PSD disclosed:

20 Apr 2022

Project Description

The provision of a 5-year senior secured loan in KZT of up to US$ 15 million equivalent to Eastcomtrans LLP (the Company), the largest private rolling stock operator in Kazakhstan.

Project Objectives

The loan proceeds will be used to finance major maintenance and capital repairs of the Company's railcar fleet.

Transition Impact

ETI score: 63

The Transition Impact is expected to derive from "inclusive" and "competitive" qualities.

Namely, the Project will introduce equal opportunity policies and practices to increase the company's female workforce share by 5-10 per cent in male dominated roles / levels and improve policy practices by introducing two new or improved National Occupational Skills Standards.

Also, the Project will support a private operator in a market dominated by state-owned enterprises via increase of the Company's market share supported by the increase of operational efficiency and service improvement.

Client Information


Eastcomtrans LLP is the largest private rail freight company in Kazakhstan and a long-standing client of the Bank. The company owns and leases over 12,000 wagons with an average age of around 10 years. In 2021, it reported € 99 million turnover.

EBRD Finance Summary

USD 15,000,000.00

A 5-year senior secured loan in KZT of up to US$ 15 million equivalent

Total Project Cost

USD 15,000,000.00


The Bank will provide post-signing technical support to the Company in the review and preparation of HR policies and practices and identification of specific actions to improve the gender balance and promote safe work environment.

The Project will support the Company to establish policies and procedures to address and mitigate the risks of GBVH in the workplace. It will also establish grievance mechanism and investigation procedure to enable the Company to respond to instances of gender-based violence and harassment safely and confidentiality.

Environmental and Social Summary

Categorised C (ESP 2019). The proposed transaction involves capital repairs and routine maintenance of non-fossil fuels fleet. Potential E&S were identified through the E&S questionnaire. This is an existing client and the Company has robust process and labour safety procedures in place. The Company has assigned health and safety responsibilities to a number of managers and employees, and regularly provides health and safety training to its workers and an induction for all new employees. The current Environmental and Social Action Plan (ESAP) contains measures aimed at the following: (i) streamlining current health and safety provisions along with environmental procedures into an integrated management system to benchmark the performance of the Company against relevant national and international standards as well as applicable Performance Requirements; (ii) developing a system for tracking the use of railcars against agreed route, cargo type and volume; and (iii) developing a procedure for registering accidents and incidents and development of a grievance mechanism for employees. The Company is on track with implementing the ESAP and submits satisfactory reporting on environmental and social issues. It undertakes an in-house evaluation of the third-party depots to ensure their compliance with licensing, HSE requirements, environmental policies and procedures, hazardous waste management and utilisation and other issues. Gender and GBVH issues will be reviewed as part of proposals for the Company to develop an Equal Opportunities Action Plan and update HR policies. The Project is Paris aligned for climate mitigation and climate adaptation.

Technical Cooperation and Grant Financing

The Project will benefit from post-signing TC support to assist the Company with the development or improvement of National Occupational Skills Standards in line with its needs and requirements. The estimated cost of the proposed TC support is up to € 75,000, expected to be funded by international donors and/or the EBRD Shareholder Special Fund (the "SSF").

Company Contact Information

Aida Yelgeldiyeva
+7 727 355 5111 (ext.801)

PSD last updated

20 Apr 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.


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