Translated version of this PSD: Ukrainian
Project Description
The EBRD is considering providing a long-term senior loan of up to USD 50million to Novus Group to finance the expansion of the Novus retail chain in Ukraine.
Transition Impact
The Project’s transition impact is derived from the demonstration effect of expanding the modern organised food retail format in Ukraine. Furthermore, the Project is expected to strengthen linkages with local suppliers and distributors by providing new business opportunities as well as to set higher requirements for their product and service quality. Finally, the Project will also set standards of corporate governance and business conduct in the retail sector in terms of advanced sustainable energy solutions, environmental, health and safety standards as well as financial reporting.
The Client
Novus Group is a grocery retail operator in Ukraine.
EBRD Finance
Senior long-term loan of up to USD 50million.
Project Cost
USD 50 million.
Environmental Impact
Categorised B. Environmental and social due diligence for this project included the completion of a detailed environmental and social due diligence questionnaire by the company, meetings between Company representatives and the Bank, and a site visit to a newly developed Novus store. Novus has systems in place for the management of environmental, health and safety and human resource management and there are staff specifically dedicated to the management of these issues. The review of the systems demonstrated that the Company complies both with national legal requirements and has a number of other initiatives in place which would be considered as good international practice also. An ESAP has been drafted and agreed with the Company covering all aspects of the Bank’s Performance Requirements covering such issues as equipment selection, waste management, land acquisition and site development, and supply chain management. Novus will be required to provide the Bank with annual reporting on the implementation of this ESAP and on any other environmental and social issues arising in the year.
Technical Cooperation
None.
Company Contact
Mr. Gintautas Pavalkis,
BT invest, Ltd
Tel. +370 5 205 2515
Email: gintautas.pavalkis@btinvest.lt
Business opportunities
For business opportunities or procurement, contact the client company.
Business opportunities
For business opportunities or procurement, contact the client company.
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Email: procurement@ebrd.com
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Text of the PIP
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.
