According to EBRD website, the project is a provision of a senior secured loan to TELE-FONIKA Kable S.A., the largest cable and wire producer in Central and Eastern Europe with headquarters in Poland. The loan will be used for the refinancing of the existing debt and for the financing of planned investments in innovative cable solutions and related R&D. It shall enable further implementation of the operational strategy to develop innovative solutions for the cables market.
Further, it is expected to reinforce the transition objectives set under the existing operation signed in 2015 as well as achieve new, more ambitious benchmarks stemming from demonstration of replicable behaviour and corporate governance improvements. The expected transition impact of the Project comes from the continuation of the first project's comprehensive balance sheet strengthening needed to further implement the operational strategy based on developing innovative solutions for the cables market. Successful transformation would have a strong demonstration effect to the whole mid-to-large business landscape on the Polish and foreign markets.
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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.