12 Feb 2002
22 Oct 2001
Financing to support the expansion of Getro's retail operations. The project objectives are to expand the company’s existing operations in Croatia.
The project benefits Getro’s suppliers by offering reliable market outlets to farmers and local agro-processing enterprises. It has led to improved quality and diversity of products offered to consumers in Croatia and neighbouring countries. Finally, it promoted improved corporate governance, market transparency and competition within the retail sector.
Getro d.o.o. is a leading operator of large format cash and carry / discount stores in Croatia.
Senior secured loan for the total amount of €55.82 million to consist of A Loan for the total amount of €28.82 and B Loan for the total amount of € 27 million. Preferred equity investment for the total amount of € 9 million.
Up to €67.82 million.
The project was screened B/1, requiring an environmental analysis of impacts associated with the construction and operation of new stores and an environmental audit of existing facilities. Due diligence undertaken on the original project along with monitoring reports confirm that Company has a well developed awareness of environment, health and safety and a number of programs in place to address those issues. The Company is confirmed as complying with applicable national and EU environment, health, safety and labour standards. Further analysis will be conducted by the Bank’s environmental specialists as part of the on-going monitoring of the Project.
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