The EBRD is considering a corporate loan in the amount of up to EUR 40 million to OJSC Lorry. The Company is the key operating subsidiary of GT Globaltruck and is one of the leading players in Russia’s regional long-haul trucking market. The loan will be used to finance a medium-term fleet renewal and expansion programme.
The transition impact of the project will be derived from
i) enhanced competition in the long haul transportation sector
ii) implementation of modern road safety management programmes, as well as
iii) introduction of new energy efficient components focusing on fuel usage reduction. The improvements criteria will be based on concrete benchmarks linked to operational performance of the Company.
The Project is expected to set a new industry-wide standard in the sector that could be replicable by other long haul companies.
Up to EUR 40 million corporate loan.
EUR 82 million.
The proposed project has been categorised B in accordance with the 2008 EBRD Environmental and Social (E&S) Policy, as the potential impacts are expected to be site specific and readily identifiable and addressed through mitigation measures.
The environmental and social due diligence for the project, which is on-going, includes an environmental and social audit to assess the Client’s management capacity and systems to manage environment, health, safety and labour issues in its operations and an analysis of the potential (future) E&S impacts and benefits. It will also assess the Client’s ability to carry out the Project in compliance with the Bank’s Performance Requirements.
An Environmental and Social Action Plan (ESAP) will be prepared for the project, and a Stakeholder Engagement Plan will be developed that will include a grievance mechanism and information on environmental and social performance and a summary of the agreed Action Plan will be released to stakeholders.
This PSD will be updated when the results of due diligence are known.
For business opportunities or procurement, contact the client company.
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