Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Investment Amount (USD)

Not Disclosed

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 9, 2022

Disclosed by Bank Dec 7, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

PROJECT DESCRIPTION

As part of its Legal Transition Programme, the EBRD conducts corporate governance reviews ("CG Review") of its selected investee companies, which enables an assessment of the basic corporate governance structure of a potential client in a consistent and impartial manner. This enables Banking teams to identify possible improvements of the clients' corporate governance practices either as a source of transition impact or as a response to particular governance risks that have been identified.

CG Review

These improvements can then be defined as standalone measures or as more comprehensive Corporate Governance Action Plans ("CGAP") which the client is expected to implement during the life of EBRD investment. The CG review process is predominantly conducted in-house by the Legal Transition Team ("LTT"). In recent years, prompted by the climate change crisis and supported by the emergence of environmental, social and governance ("ESG") considerations in investments, investors and other stakeholders are putting ever-increasing pressure on companies to take into account the impact of their business operations on the environment, society, human rights aspects and the broader economy. The global regulatory landscape around sustainability is shifting rapidly, with new climate-related disclosure requirements being developed and implemented in the UK, EU, Australia, New Zealand, Japan, China, Hong Kong, Canada and the USA. In view of the above, EBRD now intends to enhance and adapt its existing Corporate Governance Toolkit ("CG Toolkit") to the new realities, which will entail digitalising the CG review process to the maximum possible extent and ensure that data collected are captured into a database. This will serve to effectively evaluate and enhance governance practices in a larger number of EBRD's investee companies in order to support its further activities in policy reform and draw lessons learned and policy directions for future activities.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html