MK Group Financing (EBRD-49966)

Countries
  • Serbia
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
Feb 27, 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
MK Group
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)
$ 30.57 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 25
Converted using 2018-02-27 exchange rate.
Loan Amount (USD)
$ 30.57 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 30.57 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 25
Converted using 2018-02-27 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 12, 2019

Disclosed by Bank Feb 18, 2019


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Can you contribute information about this project?
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Project Description

According to EBRD website, the program aims to support iMK Group in further developing its commodity processing and trading operations in the amount of EUR 20 million, and to finance certain capital expenditures in Serbia in the amount of EUR 5 million.

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

MK Group is a leading vertically integrated agribusiness. It is Serbia's largest sugar producer, and is also engaged in farming, meat processing, trading, logistics, and other.

MK Group is a subsidiary of AEC Agrinvestment Limited, one of the largest corporate groups in Serbia, which also operates in Croatia, Montenegro, and Slovenia.

Contact Information

Dusan Radicevic
dusan.radicevic@mkgroup.rs
+381 11 3539 583
www.mkgroup.rs
MK Group d.o.o., Bulevar Mihajla Pupina 115e, 11070 Novi Beograd

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.