Novasklo Ukraine Glass Greenfield (IFC-610010)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Ukraine
Geographic location where the impacts of the investment may be experienced.
Specific Location
Kyiv
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
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
U
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
Sep 23, 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
NovaSklo LLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.95 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.
Project Cost (USD)
$ 0.95 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 13, 2026

Disclosed by Bank Apr 23, 2026

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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.

According to the Bank’s website, IFC, in partnership with Japan, is supporting NovaSklo LLC to develop a €250 million state of the art float glass plant 25 km from Kyiv. The facility will produce clear, extra clear, and energy efficient coated and tempered glass, with a daily capacity of 800 tons. Strategically located in a well established industrial zone, the plant will supply Ukraine’s construction and glass processing sectors and target exports. Construction is planned to start in late 2026 and commissioning in late 2028.

IFC is providing advisory and capacity building assistance to NovaSklo including (i) feasibility analysis and risk assessment (ii) E&S gap analysis (iii) project finance financial modeling and (iv) corporate governance, to identify and address barriers to the Glass Project’s development. These activities are aimed at enhancing the bankability of the project to successfully raise long-term financing for the project's development.

The objective of the Upstream project is to support the establishment of a domestic glass manufacturing industry in Ukraine by partnering with a Ukrainian industrial entrepreneur and investor, EFI Group, via its wholly owned project company, NovaSklo LLC. The glass manufacturing project is expected to enhance Ukraine's industrial diversification and self-sufficiency in high-quality glass products, reduce reliance on imports, and strengthen local supply chains. It will generate substantial economic benefits, including job creation during both construction and operations, skills transfer through technical partnerships, and potential for Ukraine to become a regional player in value-added glass products. The project's focus on energy efficiency, CO2 reduction, and exploration of renewable energy solutions further aligns it with global sustainability standards, enhancing its long-term competitiveness and attractiveness for future partnerships with international glass majors.

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

Estimated Total Budget: $950,000.00 (Project budget includes all project-funded activities)

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.

NovaSklo is a Ukrainian company implementing the project to create Ukraine's first high-tech float glass manufacturing plant in the Kyiv region.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - NovaSklo LLC Client -

Contact Information
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No contacts available at the time of disclosure.

ACCESS TO INFORMATION

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The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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