Translated version of this PSD: Ukrainian
The EBRD is investing US$ 17 million equity in Venta Ltd, a wholesale pharmaceutical distributor in Ukraine. The investment will be used to support the Company’s investment programme in 2014-2016, which focuses on the acquisition, expansion, upgrade and automation of the warehouses in Ukraine to comply with local and international standards for distribution of medicines and medical supplies.
The project is relevant for the transition process as it introduces best practices in technology improvements and resource-use efficiency in pharmaceutical industry of Ukraine. Venta’s investment programme is aimed at process’ optimisation and productivity improvements in its warehouses, transportation logistics and working capital management.
Venta is one of Ukraine’s leading pharmaceutical wholesale distributors.
Up to US$ 17 million.
US$ 34.6 million.
Category B. The wholesale distribution of pharmaceuticals is associated with environmental and social risks which are site specific and can be managed via the implementation of a targeted action plan. As part of the previous environmental and social due diligence, a group level Environmental and Social Action Plan (ESAP) was agreed with the client to bring operations into compliance with the Bank’s Performance Requirements. Due diligence on the current transaction comprised detailed questionnaire and discussions with Venta management to evaluate the implementation of the existing ESAP and to determine whether additional ESAP items were required with specific reference to Venta’s operations.
The findings of the due diligence were that the Company has made significant progress in implementing the existing ESAP and that no new measures were required for the Venta operations. However, a stand-alone ESAP for Venta has been developed, focussing on confirming and maintaining corporate standards and applying these to new facilities. This ESAP confirms that Venta will be required to maintain compliance with corporate standards for the employee grievance mechanism and product re-call procedures; shall appoint a manager responsible for the maintenance of the environmental and health social standards (EHSS) Management System in line with the corporate programme; shall fully implement the corporate driver training programmes; and shall implement the corporate EHSS management systems and procedure at any new warehousing facilities acquired as part of the proposed project.
Omel’yanenko Alena, Head of Financial Department
Phone:(056) 370 35 00
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