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").
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.
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.
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
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
No change in total project costs from the original project.
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
389 32 390 151
St. "Goce Delchev" 209, 2000 Shtip, North Macedonia.
PSD last updated
10 Jul 2020
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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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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