Mironovsky Khleboprodukt CJSC (IFC-21071)

Countries
  • Ukraine
Geographic location where the impacts of the investment may be experienced.
Specific Location
Cherkassy, Crimea, Oril Leader, Mironovsky, Starinska, Shahterskaya
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
Completed
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
Oct 10, 2003
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
CJSC Mironivsky Hliboproduct
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.
Loan Amount (USD)
$ 30.00 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)
$ 116.00 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.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 12, 2023

Disclosed by Bank Jul 30, 2003

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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 IFC, the project aims to take advantage of the increasingly growing poultry consumption in Ukraine, low production costs, a robust management team and the company’s leading market position. The project will help Mironovsky to capitalize on the opportunities offered by the rapidly changing consumer preference towards chilled products. By sharing IFC’s global investment experience, the project will enable the company to improve its corporate governance and rationalize its corporate structure. The project will also directly benefit at least 400 outside workers who sell the company’s products through franchise in addition to employing some 4,000 staff on site.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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 IFC, the project sponsor is Yuriy Kosyuk, also CEO of the company. Mr. Kosyuk became involved in gas clearing operation with Turkmenistan since 1999. He later decided to invest profits from gas business in the poultry business, and acquired Mironovsky feedmill and Cherkassy broiler complex. Both were facing difficulties and going through bankruptcy. Subsequently the sponsor made additional investments in another two broiler complexes and two parent farms. Currently, the sponsor’s poultry assets include a feed mill with capacity of 230,000 tpa (in Mironovsky), three broiler complexes (which include four hatcheries, three broilers and three processing plants respectively in Cherksassy, Oril Leader and Crimea), two parent stock farms (respectively in Starinska and Shaterskaya), and a chilled distribution system to retail outlets.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PJSC Mironivsky Hliboproduct Client Agriculture and Forestry

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 - CJSC Mironivsky Hliboproduct:

Mr. Yuriy Kosyuk - Chairman of the Board
Address: Mironvosky 7, Vandy Vasilevskoy Street, Kiev 03055, Ukraine
Phone: +380-44-239-2509
Fax: +380-44-239-2505

ACCOUNTABILITY MECHANISM OF IFC

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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