DFF - Florian Group (EBRD-49521)

Countries
  • Croatia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
Nov 6, 2018
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
Lipovljani Lignum d.o.o.
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • 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)
$ 5.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 5
Converted using 2019-05-14 exchange rate.
Project Cost (USD)
$ 11.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 10
Converted using 2019-05-14 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 30, 2019

Disclosed by Bank May 14, 2019


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Project Description

According to the Bank's website, this project provides financing to the Florian Group for the construction of a pellet plant at the facilities of DI Novoselec d.o.o. The Bank has proposed an Environmental and Social Action Plan to ensure that the Florian Group's management meets the Bank's requirements. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Lipovljani Lignum d.o.o. is a limited liability company incorporated in Croatia that produces wood elements and panels. Lipovljani Lignum d.o.o. is part of the Florian Group of companies in the hardwood processing industry in Europe.

Contact Information

Lipovljani Lignum d.o.o.
http://www.florianinc.com/
Industrijska 24 44322 Lipovljani Croatia

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 pcm@ebrd.com 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.