Translated version of this PSD: Lithuanian | Polish
Provision of a long term loan of up to PLN 200 million (ca EUR 47 million equivalent) to the holding company Korporacja Inwestycyjna Polskiej Farmacji Sp. z o.o. ("KIPF", "Company") for on-lending to Pelion S.A. ("Pelion") and its subsidiaries to fund a comprehensive investment programme across the group.
The project will support a leading, growth-oriented Polish pharma group in a comprehensive investment programme that will facilitate the upgrading of logistic processes across the group as well
as energy efficiency improvements.
The project will finance market expansion in order to improve the performance of the largest pharmaceutical distributor in Poland.
The group will also introduce new types of innovative pharmaceutical products and solutions, implement state-of-the-art automated solutions across all business lines and will continue the
strategic expansion of its retail operations in order to strengthen its e-commerce presence.
The expected transition impact of the project is based on the competitive and green qualities, targeting (i) market expansion coupled with restructuring aspects, (ii) commercialisation of
pharmaceutical products and solutions, and (iii) energy efficiency improvements.
KORPORACJA INWESTYCYJNA POLSKIEJ FARMACJI SP ZOO
KIPF is a holding company for Pelion which has successfully operated on both wholesale and retail pharma markets in Poland since 1990. KIPF is fully owned by Mr. Jacek Szwajcowski and Mr.
Zbigniew Molenda i the founders of Pelion.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Project has been categorised B in line with 2014 ESP. Environmental and social risks related to operation of the pharmaceutical distribution company and capex related to construction of new warehouses and improvements to existing facilities are site specific and can be managed by appropriate mitigation measures. The ESDD was carried out by ESD through review of E&S questionnaire and additional submissions, site visit to Company warehouse and retail facilities in Poland and meetings with Company management.
The Company has established Environmental Policy and responsibilities for environmental management at the group level and in the daughter companies. Majority of daughter companies have implemented ISO 9001 quality management systems and comply with strict requirements of the and Good Distribution Practices (GDP) for Pharmaceutical Products governed and regularly controlled (through site audits) by the Regional and Main Pharmaceutical Directorate in Poland for compliance with national Pharmaceutical Law and EU Directive on falsified medicinal products. The ESDD concluded that waste management, waste water discharges and air emissions at specific sites are in compliance with national and EU legislation. The Company has prepared a Sustainability reports in the past and gathered environmental performance data from across the group for these purposes.
The Company is proactively introducing energy efficiency measures in its new and renovated assets through introduction of heat pumps with heat recovery, use of materials with high insulation coefficient, LED and automatic lighting and other provisions. Land acquisition, planning, design and contractor management for new sites and renovations are closely supervised by the dedicated Construction project team.
Company plans to dedicate H&S manager at Group level, regularly advising operational managers at daughter companies and with the dedicated construction management team. External H&S consultants support the company in occupational H&S training, risks assessments and occupational monitoring. The Company is in the process of developing a corporate H&S Handbook outlining company standards and good practices. Its roll out across the group has been covenanted through the ESAP.
The Company employs over 10 000 employees (circa 80% female). HR management is organised in each individual daughter company with overarching support from the Group level. The ESDD identified risk related with use of foreign workers employed under agency agreements at one of the daughters companies and proposed a list of measures to address appropriate treatment of agency employees under the ESAP.
Environmental and Social Action Plan was developed and agreed with the Company prior to Board approval. The ESAP addresses the following issues: formalisation of the environmental management system, development of standard EHS requirements for contractors and mechanism for their EHS performance monitoring, development and implementation of quality systems at recently purchased daughter company Natura, formalisation of bioethics policy, roll out of HR and H&S standards developed for Pelion across the group; develop policy on employment of agency staff, template agreement with employment agencies and monitoring mechanism and monitoring of safety performance of outsourced transportation services. The Bank will monitor the Project and the ESAP implementation through review of Annual E&S Reports and site visits as required.
Company Contact Information
+48 42 200 75 10
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Independent Project Accountability Mechanism (IPAM)
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