The EBRD is considering providing a long-term loan of up to €25 million to Croatian retail company SPAR Croatia d.o.o.
The proposed transaction will enhance competition in the retail sector in Croatia by supporting a medium sized local retailer seeking to develop hypermarkets in Croatia, expanding also in the secondary cities and thus supporting the regional development of the country as opposed to only capital cities where majority of retailers based their operations. The Project is strengthening backward linkages with local suppliers. The backward linkages are of particular importance given the high quality criteria (including health & safety standards, image and quality/ price levels) imposed by Spar Croatia d.o.o. on suppliers, supporting thus competitiveness of the Croatian producers during the important period of the Croatia’s preparation for the EU accession.
Spar Croatia d.o.o. is a retail company, fully owned by Spar Österreichische Warenhandels AG.
€25 million senior loan
This project was categorised B under the EBRD’s Environmental and Social Policy 2008. Due diligence, which is ongoing, focused on the Spar Croatia's capacity and systems to manage environment, health, safety and labour issues in the development and operation of stores. So far due diligence has confirmed that the Companies’ stores are designed, built and operated to EU environmental standards and stores have emergency evacuation plans for life and fire safety; and the Companies have systems in place to manage their environmental impacts, OHS risks and human resources. Under the proposed project the Company will be required to comply with the Bank’s Environmental and Social Policy 2008 Performance Requirements applicable to the project (specifically PRs 1-8 and 10). The Bank will monitor the Companies’ environmental and social performance for the lifetime of the loan through annual environmental and social reporting and via periodic site visits. The Companies will be required to immediately notify the Bank of any incidents or accidents likely to have an effect on the environment or worker and public safety.
Helmut Fenzl, CEO
SPAR Croatia d.o.o.
For business opportunities or procurement, contact the client company.
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