RF - Project Red II Covid-19 response (EBRD-51980)

Countries
  • Slovenia
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
Approved
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
Apr 28, 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
Petrol DD Ljubljana
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 27.08 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 27.08 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 25
Converted using 2020-04-28 exchange rate.
Project Cost (USD)
$ 27.08 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 25
Converted using 2020-04-28 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 28, 2020

Disclosed by Bank Jun 24, 2020


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Project Description

According to EBRD website, this project was approved in the context of the Bank's response to the Covid-19 pandemic.  To avoid delays to the delivery of this project, the Bank's President granted a deviation from the ordinary timelines for PSD disclosure, as contemplated by Section V of the Directive on Access to Information. This aims to actively manage working capital needs across business lines in light of increased sales volatility caused by the Covid-19 outbreak.

Investment Description
Private Actors Description

Petrol DD refines and markets petroleum products. The Company produces motor oils, gear oils, brake fluid, antifreeze, car care products, liquefied natural gas, and gasoline. Petrol retails its products through its gasoline filling stations. Petrol also sponsors a charge card and operates hotels, motels, restaurants, and snack bars.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Petrol DD Ljubljana Client -

Contact Information

Nevenka Subelj
nevenka.subelj@petrol.si
+38614714972
www.petrol.eu
Petrol d.d. Dunajska 50 1527 Ljubljana Slovenia

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.