Original disclosure @ EBRD website
Updated in EWS Aug 10, 2017
Disclosed by Bank Jun 20, 2016
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This project finances an additional investment in Holcim OJSC, increasing the EBRD's stake in the company. This project aims to continue supporting the company to improve energy efficiency through the introduction of alternative fuels in its fuel mix.
This project invests in up to 20% of the shares of Holcim OJSC.
Holcim (Azerbaijan) OJSC is one of the largest cement and clinker producers in Azerbaijan. LafargeHolcim, the world's most advanced group in the building materials industry, acquired a controlling stake in Holcim (Azerbaijan), formerly Garadagh OJSC, during a privatisation process in 1999. Today LafargeHolcim owns more than 80% of the company's share capital and provides managerial, technical and commercial resources.
Sahil settlement, Salyan highway Baku AZ-1083 Azerbaijan
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 firstname.lastname@example.org or you can submit a complaint online using an online form, 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.