Schwarz EE V (IFC-39573)

  • Bulgaria
  • Moldova
  • Romania
Geographic location where the impacts of the investment may be experienced.
Specific Location
Small and large cities throughout Romania, Bulgaria and Moldova
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
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."
Voting Date
Sep 28, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Schwarz Group
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 213.50 million
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.
Loan Amount (USD)
$ 213.50 million
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 @ IFC website

Updated in EWS Jan 12, 2018

Disclosed by Bank May 24, 2017

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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.
According to IFC website, IFC is considering lending up to €180 million as part of a 10-year A-loan envelope to finance the €400 million investment program related to the expansion of the Kaufland format (~3,500 m2 small hypermarkets) of food retail business of Schwarz Group in Romania, Bulgaria and Moldova over the next two years. The expected development impacts of the project are: 1. Affordable goods: Modern retail distribution introduces efficiencies which enables low pricing at high quality standards. The share of modern retail in food in Romania and Bulgaria is about half that of developed countries and even lower in Moldova. Expansion of organized retail in the Target Countries will promote access to affordable and high quality food products for low to middle income households. 2. Food safety: Modern retail formats contribute to food safety by improving supply chain efficiencies and reducing food wastage. Local procurements will encourage local producers to apply best practices in their production and operations, thus ensuring quality and safety. 3. Employment generation: The Project is expected to generate significant direct employment in the new stores, indirect employment in the supply chain as well as temporary employment during construction. Typically, women constitute more than 50% of the direct employment in retail stores. 4. Green buildings: New stores expansion through the Project is expected to have energy efficiency features and showcase green building best practices, which will potentially have a demonstrational effect on local building standards.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The Schwarz Group (the “Group”) ranks among the top five food retail companies globally. Headquartered in Germany, the Group is a privately-held company. The Group is involved in food retail through two brands: Lidl and Kaufland. The Group has presence in basically all western European countries as well as in Central and Eastern Europe. The project companies are Kaufland Romania SCS and Kaufland Bulgaria EOOD & Co. KD, which are wholly owned by the Schwarz Group.

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.
Project Contact: Ms. Gamze Macit, Senior Professional Schwarz Dienstleistung KG +49 7132 30 797901 Stiftsbergstraße 1, 74172 Neckarsulm 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 You can learn more about the CAO and how to file a complaint at

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How it works