Translated version of this PSD: Ukrainian
Project Description
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.
Transition Impact
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.
The Client
Venta is one of Ukraine’s leading pharmaceutical wholesale distributors.
EBRD Finance
Up to US$ 17 million.
Project Cost
US$ 34.6 million.
Environmental Impact
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.
Technical Cooperation
None.
Company Contact
Omel’yanenko Alena, Head of Financial Department
Phone:(056) 370 35 00
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.
