Samsung Multi-Project Facility -MPF

Location:

Regional

Project number:

3239

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

C

Target board 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

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.