Provision of EUR 1.0 million (EBRD and ENEF per EUR 0.5 million) loan to Cermat doo (the "Company").
The proceeds of the Bank's investment will be used for the permanent working capital needs of the Company in order to support the Borrower's expansion and meet the continuously increasing export customers' demand.
ETI score: 60
The proposed changes are expected to upgrade the transition impact objectives for the following:
The project will support entry on new export market.
The Company increases exports sales.
The impact on the existing objectives is expected to be neutral.
MIXED COMPANY CERMAT DOO
Cermat d.o.o. is the leading producer of ice cream in North Macedonia.
EBRD Finance Summary
Increase of the existing loan amount by EUR 1.0 million (EBRD and ENEF per EUR 0.5 million)
Total Project Cost
EUR 1 million for permanent working capital needs.
Gender Additional: Cermat will engage in actions to increase the number of women completing relevant educational profiles for the required technical and engineer positions in their production facility.
EBRD is additional due to its specific attributes as an IFI with a strong regional presence and its ability to support the client with various advisory and other programs, which help the company realise its growth strategy. The Bank is also additional due to its conditionalities, including adherence to EBRD's environmental and social requirements during the life of the loan.
Environmental and Social Summary
ESAP action points have been completed.
Technical Cooperation and Grant Financing
In the past years, the Company has benefited from post-investment assistance by the EBRD/ENEF TC. Since Q4 2020, the Company is also member of the EBRD Blue Ribbon programme.
Company Contact Information
+389 47 226 671
+389 47 237 671
Novacki Pat bb, 7000 Bitola, N. Macedonia.
PSD last updated
03 Aug 2022
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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).
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