Translated version of this PSD: Russian
The EBRD has provided a loan of up to RUB 4.6 billion (€ 100 million equivalent) to Lenta LLC. The loan proceeds will be applied towards financing Lenta’s investment programme during 2014-2015, comprising investments in existing and new regional stores and distribution centres, including energy efficiency and other investments leading to improved sustainability performance.
The Bank’s financing supports further development of the Russian retail sector. It will facilitate the development of regional supplier and logistics networks and set standards through sustainability investments to be made by Lenta across its existing and new store networks.
Lenta is one of the leading Russian food retailers operating hypermarkets with a value for money proposition for the customers supported by a low-cost operational model. Lenta is one of the most regionalised chains, operating stores from St. Petersburg to Novosibirsk.
Long-term loan of up to RUB 4.6 billion (€ 100 million equivalent) to Lenta LLC.
RUB 4.6 billion (€ 100 million equivalent).
The proposed project has been categorised B. Independent consultants, in accordance with Terms of Reference (TOR) provided by the Bank, undertook a corporate review of Lenta’s environmental, health, safety and human resources management and performance. The key findings from the E&S due diligence review are that there are no significant adverse environmental or social impacts associated with the operations of the Company.
An Environmental and Social Action Plan has been developed to ensure that the Group’s operations and the project will meet the Bank’s Performance Requirements, with the emphasis on formalising management systems and gaining environmental management capacity to ensure that the Company can effectively manage and monitor the key environmental and social risks associated with its operations. Lenta will continue to provide the Bank with annual reports on environmental and social issues and the implementation of the agreed Environmental and Social Action Plan.
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