Eurotorg (EBRD-49593)

Countries
  • Belarus
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
C
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
Jul 3, 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
EUROTORG LLC
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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)
$ 23.29 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 EUR 20 million
Converted using 2018-07-19 exchange rate.
Project Cost (USD)
$ 23.29 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 EUR 20 million
Converted using 2018-07-19 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 31, 2019

Disclosed by Bank Jun 20, 2018


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Project Description

A long-term senior loan of up to EUR20 million to Eurotorg LLC, a limited liability company domiciled in Belarus, to partly refinance its existing debt portfolio.

The proposed facility will be used to refinance the loans and financial lease obligations from local financial institutions. The refinancing is part of an ongoing optimisation and diversification of the Borrower's loan portfolio through the repayment of selected facilities accumulated in previous years. 

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

Eurotorg LLC, a limited liability company domiciled in Belarus, operating the largest Belarusian grocery retail chain.

Eurotorg is the largest grocery retail chain in Belarus, with a market share of 19 percent in food retail sales (2017). The Company's business was established in 1993 in Minsk. As of 1 April 2018, Eurotorg operated 520 stores under the Euroopt and Brusnichka banners in different formats (hypermarkets, supermarkets, and convenience stores). 

Contact Information

Company Contact Information

Name: Andrei Matsiavin
Title: MatyavinA@eurotorg.by
Phone number: +375445006545
Phone number: +375445006545
Website: http://evroopt.by/

Address: No.2 Montazhnikov St. Minsk, 220019, Belarus

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Text of the PIP

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.