Samsung Multi-Project Facility -MPF

Location:

Regional

Project number:

3239

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

C

Approval date:

14 Jan 1997

Status:

Complete

PSD disclosed:

20 Dec 1996

Project Description

Multi-project facility to provide debt and equity finance to various Samsung-sponsored projects in the EBRD's countries of operations. The objective of the project is to support direct investment by Samsung in the Bank's countries of operations. This will be the first multi-project facility with an Asian sponsor.

Transition Impact

The project will help a major international industrial operator to bring in expertise, with direct investment into consumer-oriented industries in a number of the Bank's countries of operations in central and eastern Europe and Central Asia.

The Client

Samsung Electronics Co. Ltd (SEC) and Samsung Corporation (SC), both part of the Samsung group, one of the largest industrial groups in the world with a turnover of ECU 50 billion. SEC is a leading manufacturer of consumer and industrial electronics, while SC is the largest trading company in Korea.

EBRD Finance

Loan/equity multi-project facility of up to ECU 150 million (US$ 188 million).

Project Cost

Over ECU 450 million (US$ 562 million).

Environmental Impact

The project was classified C/0; it does not require an environmental assessment or an environmental audit. The EBRD reviewed Samsung's environmental appraisal and monitoring capabilities and how this would apply to the investments proposed under the multi-project facility (MPF). Samsung has adopted a group-wide environmental policy and formalised environmental procedures for the MPF, which are satisfactory to the Bank. These require that environmental issues will become part of the investment decision-making process. Environmental Action Plans, which will be developed as a result of the environmental due diligence and appraisal process and which will consider environmental compliance, liabilities, risks and opportunities, will become part of the business and investment plan for each project to be financed under the facility. Significant environmental and health and safety improvements are expected to be realised with the implementation of Samsung's MPF investment programme. The company has committed itself to applying EU standards to all investments under the MPF. An annual environmental report will be submitted to the EBRD on the investee companies encompassed by the facility.

Technical Cooperation

None.

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. 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 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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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