EBRD will provide up to US$ 24 million equivalent to Eastcomtrans LLP-the largest private rolling stock operator in Kazakhstan for 7-year senior secured loan.
The loan contributes to the refinancing programme conducted by the Company and aims to reduce the exposure to foreign exchange related risks and to optimise the maturity profile of the Company's existing debt (the "Project").The Project will introduce a new, replicable and nationally accredited training programme to equip up to 100 young people with better professional skills in partnership with a local vocational school or university.
Eastcomtrans LLP is a private railway operator domiciled in the Republic of Kazakhstan. The Company owns and leases over 12,000 wagons with an average age of below 10 years.
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.
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