RF Unimetal II (EBRD-52022)

Countries
  • Azerbaijan
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
May 26, 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
UNIMETAL LLC
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Finance
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)
$ 3.52 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 AZN 6
Converted using 2020-05-26 exchange rate.
Project Cost (USD)
$ 3.52 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 AZN 6
Converted using 2020-05-26 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 13, 2020

Disclosed by Bank May 28, 2020


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Can you contribute information about this project?
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Project Description

This project is part of EBRD's COVID-19 crisis response in Azerbaijan.

According to the bank's website this project provides financing to Unimetal to address the impact of COVID-19 on its operations and financial performance.

The Company is considering reduced working hours, potential temporary salary reductions, unpaid leave and government support schemes to avoid/reduce future retrenchment. 

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

Senior secured loan of up to AZN 6mn (EUR 3.3mn) to Unimetal LLC. 

Private Actors

Unimetal is one of the leading producers and traders of metal building materials in Azerbaijan. 

Contact Information

COMPANY CONTACT INFORMATION

Rufat Azizov

info@unimetal.az

+99450 4508854

www.unimetal.az

AZ1029, Baku city, N.Narimovanov district, Z. Bunyadov avenue 122A

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.