Ukrplastic (IFC-37450)

Countries
  • Ukraine
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
Approved
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.
Voting Date
May 12, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Ukrplastic, PAT
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 18.35 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 18.35 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 17, 2018

Disclosed by Bank Mar 7, 2017


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

Project Description
According to IFC website, the project entails investment in development of new products, including products for the agricultural sector; refinancing of some loans coming due and investment in the company’s Latvian entity. The following are the project's expected development impacts: 1) Supporting local producer: Immer Group is one of the largest producers in the manufacturing sector in Ukraine, supporting viable economic activity and preserving jobs during these difficult times in Ukraine 2) Demonstration effect: some of the IFC's financing will be directed towards completion of energy and cost efficient investments, launched before the crisis. The Project will serve as a strong example to other companies in Ukraine and encourage them to reduce their cost by investing in energy efficient technologies. 3) Employment preservation: IFC financing will help sustain operations and, hence, preserve jobs for the Company's employees as well as for its people/ businesses in the supply chain. 4) Food security and resource efficiency: improvement of agriculture yields thanks to locally produced, affordable mulch and silage films helping to save on watering, seeds and cattle food. 5) Support of the weakened economy of a conflict affected country.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Project Contact: Nikolay Kaftanov Finance Director, Immer Group Telephone No.: (+380) 44 517 1866 Website: office@ukrplastic.com General IFC Inquiries IFC Communications 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384 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/