Soufflet Grain Financing (EBRD-50194)

Countries
  • Bulgaria
  • Kazakhstan
  • Poland
  • Romania
  • Serbia
  • Ukraine
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
Oct 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
SOUFFLET FINANCES SNC
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Technical Cooperation
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)
$ 40.64 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 35 million
Converted using 2018-09-03 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 28, 2019

Disclosed by Bank Aug 30, 2018


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Project Description

This project provides financing to SNC Soufflet Finances, Soufflet Agro Polska, and Soufflet Agro Ukraine for activities in Ukraine, Poland, Romania, Bulgaria, Kazakhstan and Serbia. These companies are subsidiaries of the Soufflet Group, which is involved in the origination, storage processing (malting), and trading of agricultural commodities. 

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

The Project will have a Technical Cooperation component provided by the Japan-EBRD Cooperation Fund under the "Project Preparation Support Programme for Agribusiness Projects in Ukraine". These funds will partially cover the legal due diligence costs.

Private Actors

SNC Soufflet Finances, Soufflet Agro Polska, and Soufflet Agro Ukraine are 100% subsidiaries of the Group. Soufflet is a diversified agribusiness group based in France, engaged in malting, milling, trading, agricultural inputs distribution, as well as bakery business.

Contact Information

Name: Mr. Olivier Gallay
Email: ogallay@soufflet.com
Tell: +33 325 39 41 11
Website: www.soufflet.com

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.