RF - Nibulon WC Loan

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

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.

A senior secured loan of up to USD 27 million (the "loan") to Nibulon LLC (the "borrower") under the Resilience Framework. The loan will enable Nibulon LLC to secure sufficient working capital financing for the following seasons and support in further developing its trading activity in Ukraine amid the adverse impact of COVID-19 on its business.

Project ID 52138

Status Repaying

Location

Ukraine

Business Sector

Food and Agribusiness

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Olga Babanina
OBabanina@nibulon.com.ua
Nibulon LLC 1 Kabotazhny Spusk, Mykolaiv, 54002 Ukraine

Project ID 52138

Status Repaying

Location

Ukraine

Business Sector

Food and Agribusiness

Notice Type

Private

Environmental Category

Approval Date

30 Jun 2020

Disclosure date

14 Jul 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

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."

RF - Nibulon WC Loan (Ukrainian) (PDF, 0.91MB)

Project description

Project objectives

The loan will support Nibulon Group's liquidity for trading operations and help it withstand the COVID19-caused crisis. The operation will ensure that Nibulon remains committed to developing river transport networks and increasing inland grain procurement in new rural areas which were part of previous operations between the Bank and Nibulon Group.

Transition impact

ETI Score:61

operation will help ensure that Nibulon group preserves its ability to meet the transition impacts that were expected to be achieved as part of the previous transactions approved in 2017 and 2018.

Client information

NIBULON LTD

A limited liability company incorporated in Ukraine, Nibulon LLC is a holding entity and the main operating and asset-holding company of the Nibulon group (the "Group", "Nibulon").

EBRD Finance Summary

USD 27,000,000.00

Total project cost

USD 27,000,000.00

Additionality

The EBRD financing is provided in the extraordinary circumstances of the COVID-19 crisis that have impacted broader economic activities, and limited new lending opportunities in the market. Local banks, for instance, are reducing their working capital limits for existing clients.

Environmental & Social Summary

Categorised B (2019 ESP). The provision of short-term working capital to an existing client is not associated with any new environmental or social risks or impacts. ESDD has been carried out in line with the ESD COVID-19 response and included a review of an ESDD questionnaire, annual E&S reports provided by Nibulon, and publicly available information. The ESDD confirmed that the Company continues to be in compliance with national law, relevant EBRD PRs, is on track in implementing the existing ESAP, has maintained its institutional capacity for environmental & social risk management and is properly addressing OHS risks linked to the COVID response. No new E&S issues arise from the proposed operation, and Nibulon will continue to implement previously agreed ESAP and recently introduced COVID-response plan aimed at minimization of financial, operational, health and safety and social risks. There is no GET component associated with the Project.

Technical Cooperation and Grant Financing

The Project will have a Technical Cooperation (TC) component provided by the Japan-EBRD Technical Cooperation Fund. The TC funds will partially cover the legal due diligence costs.

Company Contact Information

Olga Babanina
OBabanina@nibulon.com.ua
Nibulon LLC 1 Kabotazhny Spusk, Mykolaiv, 54002 Ukraine

PSD last updated

14 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 the 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 its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) 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 also requires its clients to disclose information, as appropriate, about the risks and impacts of 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 of the Bank's activities 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 EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either 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. OCCO will follow-up all matters reported. It will review all matters reported. 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, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. 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 (for example, 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 the 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 more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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RF - Nibulon WC Loan

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)