DFF - WE Forward



Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

02 Aug 2022



PSD disclosed:

03 Aug 2022

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

The provision of a senior secured loan of up to US$ 4.0 million (€ 3.9 million) to co-borrowers, W&E Forward and Alat Bay, for the construction of a warehouse with a 5,000-tonne storage capacity near Baku. 

Project Objectives

The project will facilitate the flow of transit and import-bound cargoes by reducing the cost and time of delivery between the Black Sea ports of Georgia and Baku.

Transition Impact

ETI score: 80

The DFF SME framework primarily targets the "Competitive" quality by helping SMEs to restructure and become more efficient or professional. Sub-projects can target any of the other transition qualities as a secondary objective. The Project supports framework objectives by supporting an SME in the areas of "Competitive" and "Inclusive".

Client Information


West & East Forward LLC (W&E Forward) is an Azerbaijan-based logistics firm operating since 1993.

Alat Bay Industrial Development AFEZCO LLC (Alat Bay) established in April 2022 for the purpose of the Project. W&E Forward and Alat Bay will act as co-borrowers under the Project. 

EBRD Finance Summary

USD 4,000,000.00

Total Project Cost

USD 7,362,500.00


The Bank's additionality derives from the tenor and repayment structure of the proposed loan, which is necessary to undertake the capital expenditure programme for the warehouse construction. Local banks mainly provide shorter tenor loans with a restrictive repayment schedule, limiting the company's capacity to implement investment programmes.

The Client makes use of the EBRD expertise over energy and resource efficiency and climate resilience financing via the provision of energy and climate audits, minimum performance standards of technologies, climate-related strategies and policies, monitoring, reporting and verification (MRV) systems.

The Client makes use of the EBRD expertise on higher financial standards, including through financial covenants, as well as higher inclusion, gender standards and/or equal opportunities action plans.

Environmental and Social Summary

Categorised B (2019 ESP). 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, including a review of corporate management systems. The review covered the existing facilities, and confirmed that they are in satisfactory condition and generally meet the Bank's Performance Requirements.  All operational facilities are located in an urban area and do not have negative impacts on any sensitive receptors.

A review of the Company's corporate management system showed that it has well-established and integrated EHS management systems that have been developed in line with good international practice, and have been implemented throughout their operations.  Coordination, oversight and monitoring functions provided by the Company seek to ensure consistency in the approach to, and the management of, key EHS issues for new projects and operational activities. The Company has demonstrated its commitment to implement the Project in line with national and international environmental standards. Given the quality of their corporate management systems, it is expected that the environmental and social impacts associated with the Project will be readily mitigated and properly managed.

An Environmental and Social Action Plan (ESAP) has been agreed with the Company to address the mitigation measures and improvements which will enable the Company to comply with the Bank's PRs. As part of the ESAP the Company will implement the following actions:

  • Maintain and continuously implementation of the principles of Corporate EHS management system at project level in line with ISO 14001, OHSAS 18001 and relevant EBRD PRs and develop EHS training plan for employees involved in the operation of new facilities and ensure its implementation.
  • Obtain all necessary Environmental, Sanitary, H&S and Fire safety permits prior to operation of the new facilities.
  • Carry out regular internal Environmental and Fire, H&S audits according to the national and the EBRD requirements and ensure timely and effective implementation of the notices from Environmental, Sanitary, Health & Safety and Fire Safety state authorities.

The Company will undertake local disclosure of its environmental and social performance to the local public and report on that to the Bank on annual basis.

The Bank will monitor the Company's environmental and social performance and implementation of the ESAPs through annual E&S reports.

Technical Cooperation and Grant Financing

  1. Project Due Diligence financed 80 per cent by the EBRD Shareholders' Special Fund and 20 per cent by the Client.

  2. Legal Due Diligence to be financed 80 per cent by the Early Transition Countries (ETCs) Fund and 20 per cent by the Client

  3. Energy and Resource Efficiency review to be financed 90 per cent by FINTECC EU4Climate window funded by EU NIP and 10 per cent by the Client.

  4. Equal Opportunities for Young Men and Women in Logistics Sector TC will be financed by 80 per cent by an international donor and/or the SSF and 20 per cent the Client.

    The Client will introduce the latest sustainable refrigerator technologies and, as a result, is expected to benefit from an incentive grant of up to 17 per cent of eligible costs to be financed by EU NIP under the FINTECC EU4Climate window.

Company Contact Information

Arif Valiyev
+99412 310 02 03
+99412 310 02 03
M.Jafarov street 10, apart.188, Baku, AZ1102

PSD last updated

03 Aug 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.


Share this page: