This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Uludag Soft Drinks (EBRD-46911)

Countries
  • Turkiye
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
Active
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
Nov 26, 2014
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.
Investment Amount (USD)
Not Disclosed
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.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Disclosed by Bank Sep 26, 2014


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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.
TRANSLATED VERSION OF THIS PSD:TURKISH Turkish PROJECT DESCRIPTION The EBRD is considering a long-term loan of up to EUR 30 million to Uludag, one of the leading branded soft drinks producers in Turkey. The loan will finance the company's 2014-2015 investment programme including the launch of new production lines and energy efficiency improvements (the "project"). TRANSITION IMPACT The project's transition impact is expected to derive from setting standards of corporate governance and business conduct as well as demonstration of new processes. Specifically, with the EBRD's support Uludag will improve its corporate governance standards, environmental and resource efficiency and set standards in product traceability. Uludag will also invest in innovative technologies improving the quality and lifespan of its products. THE CLIENT Erbak Uludag Icecek A.S. EBRD FINANCE Up to EUR 30 million loan for the account of EBRD PROJECT COST Approximately EUR 30 million. ENVIRONMENTAL IMPACT Categorised B. The impacts associated with the activities of the company are site specific and can be readily addressed through appropriate mitigation measures. Due diligence on the project included a review of written submissions provided by the company and site visits to the company's production facilities by specialists from the Bank. TECHNICAL COOPERATION None. COMPANY CONTACT Gurhan TUTLU, CFOButtim arkasi Doganevler Mah. (Kanalboyu) No:33 Osmangazi / Bursa(T) +90 224 738 16 00
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.
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.

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