RF - VOSKHOD CHROMIUM LOAN (EBRD-52622)

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
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
Mar 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
VOSKHOD CHROME LLP
The holder of the loan, grant, or other investment.
Sectors
  • Mining
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)
$ 15.00 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)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 29, 2021

Disclosed by Bank May 17, 2021


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Project Description

Under this project, EBRD is going to provide a loan-US$ 15 million to Voskhod Oriel LLP and Voskhod Chrome LLP (Voskhod),the companies operating a chromium mine in Kazakhstan.

PROJECT OBJECTIVES

This project is considered to be Bank's Strategy for Kazakhstan and Extractive Mining Industries Strategy and COVID-19 response. 

 

Investment Description
Private Actors Description

Voskhod Oriel LLP and Voskhod Chrome LLP are two limited liability partnerships incorporated in Kazakhstan. Voskhod Oriel LLP is engaged in extraction of chrome ore. Voskhod Chrome LLP operates a chrome ore concentrating plant. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - VOSKHOD CHROME LLP Client Mining

Contact Information

COMPANY CONTACT INFORMATION

Serdar Ates, Structured Finance Manager Yildirim Holding A.S.serdar.ates@yildirimgroup.com+90 212 290 30 80YILDIRIM Tower, Maslak Mahallesi, Tasyoncasi Sok. No:1C B2 Blok, 34485 Sariyer / Istanbul Turkey

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