Eastcomtrans Loan (EBRD-51345)

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.
Project Status
Proposed
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
Jul 8, 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
EASTCOMTRANS LLP
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 24.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 24.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 21, 2020

Disclosed by Bank May 26, 2020


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Project Description

PROJECT DESCRIPTION

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.

PROJECT OBJECTIVES

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.

 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

EASTCOMTRANS LLP

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.

Contact Information

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, 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.

Company Contact Information

Aida Yelgeldiyeva
yelgeldiyeva@ect.kz
+7 727 355 5111 (ext.801)
www.ect.kz