According to the Bank's website, this project finances the construction and putting into operation of a new greenfield particleboard plant in Akmene, as well as the restructuring of the borrowers' balance sheets.
Klaipedos Mediena AB, a public limited liability company domiciled in Lithuania, active in the wood-processing sector (particleboard and furniture manufacturing).
Vakaru Medienos Grupe UAB, a private limited liability company domiciled in Lithuania, a holding company consolidating operating subsidiaries in Lithuania (including Klaipedos Mediena AB).
The co-borrowers are part of VMG Group of companies, one of the largest Lithuanian groups engaged in wood processing (particleboard and furniture production) and related activities, with operating companies in Lithuania and Belarus.
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.