According to the Bank's website, this project finances capex and working capital needs of Sodrugestvo Group's subsidiaries in Turkey. Specifically, the loan will be utilised to finance part of the acquisition of a production facility in Turkey and further capex programmes including the modernisation of the acquired facility along with working capital financing for expansion of the operations in Turkey.
According to the Bank, the purchase and processing of soybeans is associated with a number of environmental and social issues which are readily addressed through appropriate mitigation measures.
Sodrugestvo Group S.A., headquartered in Luxembourg, ranks amongst the top-20 processors of soybeans in the world with activities in Turkey and the wider region including CIS, MENA, Latin America, and Europe.
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 firstname.lastname@example.org 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.