DFF - Aktiva

Location:

North Macedonia

Project number:

50472

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

B

Approval date:

23 Jun 2020

Status:

Signed

PSD disclosed:

10 Jul 2020

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

Provision of EUR 0.5 million loan as increase of the existing loan amount from the current EUR 5.0 million to EUR 5.5 million to Aktiva DOO (the "company"). 

Project Objectives

The proceeds of the loan will be used for the completion of a coating facility as part of the original project to enhance the company's competitiveness in the metal fabrication segment.

Transition Impact

ETI score: 60

The impact is expected to be neutral:

The DFF SME framework primarily targets the Competitive quality by helping SMEs restructure and become more efficient or professional. Sub-projects can target any of the other transition qualities as a secondary objective. This project is supporting framework objectives by supporting an SME in the following areas: Competitive and Integrated.

Client Information

AKTIVA DOO

Aktiva doo founded in 1999, is one of the leading metal processing and construction companies (steel constructed industrial facilities) in North Macedonia. 

EBRD Finance Summary

EUR 5,500,000.00

Increase of the existing loan amount by EUR 0.5 million, from current EUR 5.0 million to EUR 5.5 million.

Total Project Cost

EUR 10,500,000.00

No change in total project costs from the original project.

Additionality

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

Progress implementing both the project and some of the ESAP actions has been slow and suffered delays recently due to COVID-19, and a revised timetable for ESAP implementation will be agreed with the Client. The Company has implemented actions in response to COVID-19 in accordance with national legislation and no reduction of workforce numbers has been undertaken, however a worst case scenario involving a reduction of 10-15% may be required in future. The PR2 requirements regarding collective dismissals will be included in the updated ESAP.

Technical Cooperation and Grant Financing

Aktiva is member of the Bank's Blue Ribbon programme. Completed project: Improvement in performance and quality management, output efficiency and quality, supply chain management system and improvement in sales and marketing activities. 

Ongoing project: Improvements of CFO/Financial Department Function (Shadow CFO). 

Company Contact Information

Zoran Ilievski
aktiva@aktiva.com.mk
389 32 390 151
www.aktiva.com.mk
St. "Goce Delchev" 209, 2000 Shtip, North Macedonia.

Implementation summary

n/a

PSD last updated

10 Jul 2020

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 how to submit a Request for review through our confidential online form, by emailmail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requesters’ identities may be kept confidential, upon request.

 

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