According to the Bank's website, this project finances the capacity expansion programme and infrastructure upgrade of Kronospan's plant in Mogilev, as well as refinancing the Company's existing debt to EBRD.
Kronospan OSB FLLC (Kronospan Mogilev) and Kronospan FLLC (Kronospan Smorgon) are leading producers of wood-based panels in Belarus, subsidiaries of Kronospan Holdings East LTD, Cyprus.
Kronospan is the market leader in the wood-based panel sector. It manufactures wood-based panel products at over 40 sites and has 16 distribution centres in 30 countries.
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 email@example.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.