ERU Trading (EBRD-52380)

Countries
  • Ukraine
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.
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, 2021
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
ERU TRADING LLC
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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.
Loan Amount (USD)
$ 11,969.91 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 EUR 10,000,000.00
Converted using 2021-04-15 exchange rate.
Project Cost (USD)
$ 11,969.91 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 EUR 10,000,000.00
Converted using 2021-04-15 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 31, 2021

Disclosed by Bank Apr 15, 2021


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Project Description

EUR 10 million two-year committed local currency-denominated working capital loan to ERU Trading. EBRD funds will be used to support growing gas trading operations of ERU Trading in order to secure low-cost gas from the EU during the summer season and store it in Ukrainian gas storages with the further sale in Ukraine (primary option) or re-export to the EU (secondary option) during winter heating season. The project objective is to facilitate further development and competition at the Ukrainian gas trading market by means of supporting activities of transparent and efficient privately-owned energy traders.

 

Investment Description

Contact Information

Olga Mamedova
+38 044 428 70 16

olga.mamedova@eru.com.ua

 

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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