Lantmannen Romania

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a EUR 90 million long-term loan to Lantmannen ek for (the "Company") to support the Company's expansion of its operations in Romania through investments in a new state of the art bakery in Romania.

Project ID 54683

Status Disbursing

Location

Romania

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

Eva Gotthardsson
info@lantmannen.com
+46 10 556 00 00
https://www.lantmannen.com/
Box 30192, SE-104 92 Stockholm

Project ID 54683

Status Disbursing

Location

Romania

Business Sector

Food and Agribusiness

Notice Type

Private

Environmental Category

Approval Date

20 Sep 2023

Disclosure date

11 Aug 2023

Lantmannen Romania (Romanian) (PDF, 0.47MB)

Project description

Project objectives

The project will support enhanced energy efficiency measures at the new production site and human capital development through an accredited training and work placement programme.

Transition impact

ETI Score:64

expected transition impact of the project is "Green" as the primary quality and "Inclusive" as the secondary quality. Under the Green quality, the proposed investment will support energy efficiency improvements of the new production plant in Romania. Under the Inclusive Quality, the project will support human capital development through a nationally-accredited work-based learning programme delivering technical production skills in partnership with a local vocational educational institution.

Client information

LANTMANNEN EK FOR

Lantmannen ek for is an agricultural cooperative and one of the largest players in agriculture, machinery, bioenergy and food products in Northern Europe. The cooperative is owned by 18,000 Swedish farmers.

EBRD Finance Summary

EUR 90,000,000.00

Total project cost

EUR 90,000,000.00

Additionality

EBRD offers a tenor which is longer than available to the client on the market on reasonable terms and conditions. The Bank's financing provides comfort and encourages Lantmannen to commit to this investment in Romania. Through the Bank's engagement, the Company will ensure compliance and implementation of best practices in terms of environmental and social standards.

Environmental & Social Summary

Categorised B (ESP 2019). Lantmannen is an existing client of the Bank, which has been subject to previous, recent due diligence, and performance to date has been satisfactory. The proceeds of the Bank's investment will be used for capex investments to build a new state of the art bakery production site in Bucharest, Romania. Lantmannen is the largest agribusiness cooperative in Sweden with operations in agriculture, machinery, bioenergy and food manufacturing. Lantmannen has operations in a number of EBRD CoOs including Poland (two bakery manufacturing sites), Romania (one bakery manufacturing site), Ukraine (breakfast cereal production) and Baltics (through its JV Scandagra, a commodity trader and inputs supplier to farmers).

Environmental and social due diligence for this project was undertaken through completion of the standard E&S Due Diligence Questionnaire by the Company as well as reviewing the documents provided by the client as part of their responses to the Questionnaire (Sustainability Report 2022, Lantmannen Unibake Romania SA Quality Policy, 2022 Social Audit report, etc.). Lantmannen has a wide range of policies in place covering key E&S issues including a Company Code of Conduct, a Supplier Code of Conduct, an anti-corruption policy, and adherence to a LEAD Code. The Company has developed a bespoke auditing program through which different entities within the Group are assessed for compliance with the Company's various requirements which are aligned with the scope of the Bank's Performance Requirements.

ESDD concluded that the Company has sufficient E&S systems and policies in place to comply with the Bank's Performance Requirements (PRs) and with national legislation. The proceeds of the Loan will be invested in an EU country, governed by EU law. A supplementary package including an Environmental and Social Action Plan (ESAP) will be also prepared for the project. The Company will be required to report to the Bank on an annual basis on the implementation of the PRs.

Technical Cooperation and Grant Financing

None.

Company Contact Information

Eva Gotthardsson
info@lantmannen.com
+46 10 556 00 00
https://www.lantmannen.com/
Box 30192, SE-104 92 Stockholm

PSD last updated

11 Aug 2023

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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Lantmannen Romania

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)