DFF - Aptha Global Franchising (EBRD-55708)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Bosnia and Herzegovina
  • Croatia
  • Slovenia
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 4, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Aptha Global d.o.o., Tastra d.o.o.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.27 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 9.9
Converted using 2025-02-04 exchange rate.
Loan Amount (USD)
$ 10.27 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 9.9
Converted using 2025-02-04 exchange rate.
Project Cost (USD)
$ 13.48 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 13
Converted using 2025-02-04 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 17, 2025

Disclosed by Bank Feb 14, 2025

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Can you contribute information about this project?
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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the Project refers to the expansion of KFC restaurants in Bosnia and Herzegovina and the roll out of Taco Bell restaurants in the Western Balkans region, Croatia and Slovenia.

The project aims to successfuly complete the roll out of restaurants in line with the development plan agreed with the Bank and YUM Brands (the Franchisor). Apart from creating significant number of new workplaces by financing the expansion of KFC and Taco Bell in the region, the Project aims to pioneer circular economy principles in the restaurant business and a fully digital approach to sales.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

As stated by the EBRD, out of the total Loan amount, EUR 8.1 million will be provided by the Bank and the remaining EUR 1.8 million will be supplied from the Global Environment Facility under the Circular Economy Regional Initiative.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, Aptha Global d.o.o. is a limited liability company incorporated in Bosnia and Herzegovina, focused on the roll out of Taco Bell restaurants and Mango clothing stores. Tastra d.o.o., the co-borrower and a limited liability company incorporated in Bosnia and Herzegovina, is a franchising business of KFC restaurants.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
KFC Corporation (Kentucky Fried Chicken) Client Industry and Trade contracts with Aptha Global d.o.o. (Aptha Corporation) Contractor Industry and Trade
Taco Bell Corporation Client Industry and Trade contracts with Aptha Global d.o.o. (Aptha Corporation) Contractor Industry and Trade
Yum! Brands Inc. Parent Company Industry and Trade owns KFC Corporation (Kentucky Fried Chicken) Client Industry and Trade
Yum! Brands Inc. Parent Company Industry and Trade owns Taco Bell Corporation Client Industry and Trade

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Aptha Global d.o.o.:

Aida Hrustic
Email: aida.hrustic@aptha.ba
Phone: +387 33 839 113
Website: http://aptha.ba/
Address: Put Famosa 38, 71000 Sarajevo, Bosnia and Herzegovina

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

How it works

How it works