The provision of a senior secured debt of US$ 2.0 m (€1.8m) to Economic Society "Yakymly Kumush Suwy" for additional working capital needs to ensure continuity of its soft drinks production during the COVID-19 crisis by mitigating the risk of possible disruption in supply of imported raw materials.
This project was approved in the context of the Bank's response to the COVID-19 pandemic. To avoid delays to the delivery of this project, the Bank's President granted a deviation from the ordinary timelines for PSD disclosure, as contemplated by Section V of the Directive on Access to Information. Details of the Bank's response to COVID-19, and this deviation, can be found on our website.
The loan will support Yakymly Kumush Suwy liquidity and help it withstand the Covid19-caused crisis.
ETI score: 60
The goal of the proposed operation is to preserve the gains achieved through previous engagements with the client and to mitigate the delivery risk of outstanding objectives.
YAKYMLY KUMUSH SUWY ES
Yakymly Kumush Suwy is an economic society incorporated in Turkmenistan. The Company is engaged in production of soft drinks and drinking water.
EBRD Finance Summary
Total Project Cost
COVID-19 crisis response: the EBRD financing effectively bridges a liquidity gap due to adverse market conditions, e.g. the COVID-19 crisis.
Environmental and Social Summary
Categorised C (ESP 2019). Tolkun is an existing client and has been subject to environmental and social (E&S) due diligence in the context of those existing projects. Systems and capacity to manage E&S issues typical of the sector have been judged adequate and Tolkun has provided satisfactory E&S reporting for current projects. No additional E&S due diligence or actions are required for this project. The Company should continue to comply with the Bank's Performance Requirements and provide annual E&S reporting to the Bank.
Technical Cooperation and Grant Financing
Legal Due Diligence, € 26,775.
Company Contact Information
Mr Yunus Muhammetdurdyev
House 42, 2127 street,Berkararlyk region, Ashgabat, Turkmenistan
PSD last updated
07 Dec 2020
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