Integrated Approach MREK II (EBRD-50543)

Countries
  • Kazakhstan
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.
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
Dec 11, 2020
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
MANGISTAU ELECTRICITY DISTRIBUTION NETWORK COMPANY JSC
The holder of the loan, grant, or other investment.
Sectors
  • Energy
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)
$ 11.51 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 9.5 million
Converted using 2020-12-11 exchange rate.
Project Cost (USD)
$ 11.51 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 9.5 million
Converted using 2020-12-11 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 19, 2020

Disclosed by Bank Nov 11, 2020


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Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the Bank's website, the project provides funding to the Mangistauskaya Regional Distribution Company (MREK) to refinance existing FX-denominated liabilities

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

PROJECT CONTACT INFORMATION

Denisova Ekaterina Aleksandrovna
ye.denissova@mrek.kz
8 (7292) 200-225, 200-203, 202-666
http://www.mrek.kz/
JSC Mangistauskaya Regional Distribution Company 29a microdistrict, building 97 Aktau, Mangistauskaya oblast Kazakhstan 130000

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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