Soufflet Grain Financing

Location:

Regional

Project number:

50194

Business sector:

Agribusiness

Notice type:

Private

Environmental category:

B

Approval date:

31 Oct 2018

Status:

Disbursing

PSD disclosed:

30 Aug 2018

Translated version of this PSD: Bulgarian | KazakhPolish | Romanian | Russian | Serbian | Ukrainian

Project Description and objectives

Provision of a multi-currency working capital loan (Loan) to subsidiaries of the Soufflet Group (Soufflet or Group) involved in the origination, storage, processing (i.e. malting) and trading of agricultural commodities. The proceeds of the Loan will be used by the subsidiaries of the Group in Ukraine, Poland, Romania, Bulgaria, Kazakhstan, and Serbia (CoO).

Transition Impact

Transition impact of the transaction will be derived from:

(i) the Competitive quality: by improving the quantity of grain sourced and number of suppliers in EBRD countries of operations, in particular in Ukraine, Romania and Bulgaria, and

(ii) the Well-governed quality by assessing, improving and certifying the CSR Management System of all Soufflet subsidiaries engaged in collection and trading of agricultural commodities in EBRD
countries of operations.

Client Information

SOUFFLET FINANCES SNC

SNC Soufflet Finances, Soufflet Agro Polska, and Soufflet Agro Ukraine are 100% subsidiaries of the Group. Soufflet is a diversified agribusiness group based in France, engaged in malting, milling,
trading, agricultural inputs distribution, as well as bakery business.

EBRD Finance Summary

EUR 35,000,000.00

Environmental and Social Summary

Category B (2014 ESP). The environmental and social (E&S) risks associated with the origination, storage, transport and processing of agricultural commodities are site specific and can be managed by the implementation of standard industry practice. Soufflet is well known to the Bank and has a record of implementing projects in line with the Bank's Performance Requirements. E&S due diligence for this transaction is on-going and has included a desktop review of Soufflet's E&S policies, annual E&S reporting, completion of a corporate level E&S DD Questionnaire and a site visit by the Bank specialists to the Slavuta facility in Ukraine. This PSD will be updated, including summary information on any environmental or social actions that have been agreed with the Group, once the due diligence process is complete.

Technical Cooperation

The Project will have a Technical Cooperation (TC) component provided by the Japan-EBRD Cooperation Fund under the "Project Preparation Support Programme for Agribusiness Projects in Ukraine". The TC funds will partially cover the legal due diligence costs.

Company Contact Information

Mr. Olivier Gallay
ogallay@soufflet.com
+33 325 39 41 11
www.soufflet.com

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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