Eurotorg (IFC-35769)

Countries
  • Belarus
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Hold
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Evrotorg OOO
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 55.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 291.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 8, 2017

Disclosed by Bank Aug 1, 2016


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Project Description
This project finances the expansion of the Belarusian retail food chain LLC Eurotorg. The project includes refinancing and the opening of new stores, mainly in small and medium formats, and predominantly in leased space.
Investment Description
  • International Finance Corporation (IFC)
Headquartered in Minsk, Belarus, Eurotorg is the largest food retailer in Belarus, with 438 stores throughout the country (as of January 1, 2016) and a total trade area of 256,500 square meters (“sqm”). The company is a multi-format chain which operates five store formats ranging from small convenience stores to hypermarkets, all under the brandname “Euroopt”.
Contact Information
Contact Person: Andrei Matsiavin Company Name: Eurotorg LLC Address: 220019, Republic of Belarus, Minsk, Montazhnikov str., 2 Email: matyavinA@eurotorg.by Phone: +375 44 7 888 880 Facsimile: +375 17 201 16 46 ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/