XM-DAC-903-SII-31979
International Finance Corporation
RBI Equity Project
The project consists of a straight equity investment by IFC of up to EUR150 million in Raiffeisen Bank International AG (RBI). The shares, which are listed on the Vienna Stock Exchange, were acquired by participating in a private placement by RBI in the form of an Accelerated Bookbuilding (ABB). The ABB is part of a capital increase and is followed by a rights issue to existing investors. RBI has confirmed to IFC that it will deploy the IFC investment in the form of Tier 1 capital as part of its capital planning in the subsidiaries ZAO Raiffeisenbank, Raiffeisen Bank d.d. Bosna i Hercegovina, Raiffeisen Bank Polska S.A. and Raiffeisen Bank Kosovo J.S.C. (Selected Subsidiaries).
The proposed investment would allow IFC to i) Counter the deleveraging effect by providing the RBI subs with tier 1 capital, ii) enable RBI to continue supporting SME customers, promoting economic activity and job creation in the respective countries, iii) contribute to the banking sector stability by increasing the capital of the emerging markets subsidiaries and iv) have a signaling effect to the market showing support to the banking sector in ECA.
RAIFFEISEN BANK INTERNATIONAL AG
Investor Relations Raiffeisen Bank International AG Am Stadtpark 9, A-1030 Vienna Austria Telephone: +43 1 71707 2089 Fax: +43 1 71707 2138
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
RBI is active as a universal bank in 17 markets in CEE and Austria through a network of subsidiary banks, leasing companies and specialized financial service providers. The project is, by participating to RBIs capital increase, to channel financing to 4 banks in RBIs network in CEE namely, Bosnia and Herzegovina, Kosovo, Poland and Russia.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
O-AA - Commercial Banking - General
Total: $186.05 million
186050000.00
186050000.00
RAIFFEISEN BANK INTERNATIONAL AG
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/31979/rbi-equity-project
XM-DAC-903-SII-33235
International Finance Corporation
DARP APS Project
The proposed project is part of IFCs program to promote the development of distressed asset markets. In this project IFC is partnering with APS Holding, Czech Republic to acquire non-performing loan portfolios in Romania, Bulgaria, Montenegro and potentially other countries.
- Economic Development: The successful implementation of the project will improve the secondary market for distressed assets and could catalyse investment interest on the part of other investors. - Business Environment: As financial intermediaries increase the sale of their NPLs to independent private investors, bank balance sheet transparency increases. Assets priced at market serve as a reference for true asset values on balance sheets as well as in the system. - Financial Infrastructure: IFC''s involvement in this Project would positively impact the market place by building capacity of the financial markets in ECA and, in particular, the Balkans. The Project is expected to increase the ability of financial intermediaries to offload their assets.
APS FUND BETA uzavreny investicni fond, a.s.
Martin Machon Celetná 988/38 110 00 Prague 1 Czech Republic mailto:holding@aps-holding.com phone +420 225 375 500 fax +420 225 375 515
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
N/A
Eastern Europe Region
APS Holding is headquartered in Prague, Czech Republic and has servicing capacity for each of the targeted markets.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
O-AJ - Commercial Banking - Distressed Assets
Total: $27.14 million
26480000.00
660000.00
26480000.00
APS FUND BETA uzavreny investicni fond, a.s.
660000.00
APS FUND BETA uzavreny investicni fond, a.s.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33235/darp-aps-project
XM-DAC-903-SII-34291
International Finance Corporation
Virgin Mobile Central & Eastern Europe
BeMyMobile Ltd (VMCEE or the Company) is an early stage, mobile virtual network operator (MVNO) with plans to provide mobile telephony services across Eastern Europe and Central Asia. VMCEE launched operations in Poland in August 2012 and plans to launch in Turkey during 2014. To this end, the Project consists of supporting VMCEE in the build-out and launch of its operations in Poland and Turkey. In the future, Russia and Kazakhstan could also be considered.
1) Greater availability, affordability & accessibility of mobile services: VMCEE and (Mobile Virtual Network Operator -"MVNOs" in general) contribute toward lowering the cost and increasing competition in mobile telephony. VMCEE''s data centric product offering will support further expansion of mobile broadband, targeting underserved niche markets by traditional Mobile Network Operators ("MNOs") such as lower income population in rural areas and the youth market with limited purchasing power. 2) Improved productivity through broadband connectivity: VMCEE''s data centric offering contributes to improved productivity through greater broadband connectivity. The broadband connectivity is widely recognized to be a catalyst for innovative business models such as e-health, e-education, e-commerce, etc, directly contributing to economic growth. 3) Increase competition and maximize efficiency: VMCEE will operate over existing telecoms infrastructure, allowing MNOs owner of the core infrastructure to sell excess minutes and data usage, thus maximizing efficiency and increasing price competition through improved cost structure. The MNOs owner of the core infrastructure benefits by selling additional minutes and data wholesale. VMCEE (and MVNOs generally) are fully aligned with the regulator''s objective of increasing competition in the target markets. 4) Job creation for youth: VMCEE will operates through extensive networks of SME dealers, distributors and franchises, thus creating job opportunities especially for young and skilled labor force who are attracted to the Virgin brand and the associated brand image.
Virgin Mobile Central and Eastern Europe (BeMyMobile Ltd.)
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The Project will focus on Turkey and Poland with national coverage.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
N-AC - Mobile Telephony
Total: $13.83 million
13830000.00
13830000.00
Virgin Mobile Central and Eastern Europe (BeMyMobile Ltd.)
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/34291/virgin-mobile-central-eastern-europe
XM-DAC-903-SII-34759
International Finance Corporation
Soufflet 2 Project
Groupe Soufflet (Soufflet or the Group) is a mid-size, vertically-integrated, global agribusiness group whose main activities include the procurement, primary processing and trading of grains - primarily wheat and barley. With presence in 16 countries, the Group is a leading agricultural input distributor, grain originator, grain exporter and wheat miller in its home-base of France as well as a global market leader in malting. The project entails support to the Groups strategy in Europe and Central Asia (ECA) to (i) increase in-kind pre-financing to farmers and grow its non-barley business; (ii) decrease foreign exchange risk by increasing local currency funding; and (iii) maintain a buffer to absorb the impact of grain price volatility on the Groups working capital needs (the Project). The Project will directly support the Groups working capital needs in Russia, Ukraine, Kazakhstan, Romania, Serbia and Poland (collectively, the Project Countries).
The development impact of the Project is expected to include: (i) Small-holders reach as the IFC financing will be channeled by Soufflet throughout the agricultural supply chain; (ii) Improved food security through increased productivity; (iii) Private sector development in challenging business environments.
SOUFFLET FINANCES
Mr. Laurent Bernasse, Chief Financial Officer Address: Quai du General Sarrail, 10400 Nogent sur Seine Cedex, France Tel: +33 3 2539 41 11 Email: mailto:lbernasse@soufflet-group.com Website: http://www.soufflet.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Address: Quai du General Sarrail, 10400 Nogent sur Seine Cedex, France Tel: +33 3 2539 41 11
Eastern Europe Region
The IFC financing will be directly used to support Soufflets working capital needs in the six Project Countries.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
F-AA - Grain Processing (Milling, Starch, Flour, Malt)
Total: $81.90 million
81900000.00
81900000.00
SOUFFLET FINANCES
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/34759/soufflet-2-project
XM-DAC-903-SII-35030
International Finance Corporation
DARP Ursa Project
The proposed project consists of an investment in one or more Special Purpose Vehicles (SPVs) funded alongside local partner-servicer in Romania. The SPV will purchase a portfolio of non-performing loans (NPLs) issued by the Romanian subsidiary of a large regional bank. The NPLs consist of small and medium enterprise (SME), small business, and retail. Through the proposed project, IFC would play an important role in (i) providing an attractive mechanism for NPL resolution in the region; (ii) assisting with balance sheet management of the selling bank, increasing liquidity; (iii) mobilize funding from the private sector.
(i) Economic Development: The successful implementation of the project would improve the secondary market for distressed assets in the countries of investment and could catalyze investment interest on the part of other investors. A developed secondary market in NPL trading and servicing is a stabilizing factor in financials systems. This allows the financial institutions selling DAs to reallocate capital to other activities, hopefully, new lending. (ii) Business Environment: As banks in the region increase the sale of their distressed assets to independent private investors, the transparency of those institutions'' balance sheets should improve as the assets sold would be priced according to market conditions. (iii) Financial Infrastructure: IFC''s involvement in this project would positively impact the market place by building NPL servicing capacity in the financial markets. The project is expected to increase the ability of financial intermediaries in the country to offload their assets, particularly non-performing ones, improve liquidity and devote resources to originating new transactions
ProsperoCapital S.a.r.l
Ms. Marta Mueller Guicciardini Email: mailto:MGuicciardini@ifc.org Tel: +33 140 693 191
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
Romania.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
O-FB - Distressed Assets SPV
Total: $22.78 million
22780000.00
22780000.00
ProsperoCapital S.a.r.l
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/35030/darp-ursa-project
XM-DAC-903-SII-35214
International Finance Corporation
ESIP Kaymu Project
Kaymu Eurasia is an Online Marketplace that enables businesses and consumers to offer their goods for sale online and end customers to research, compare prices and purchase online. This venture was initiated by Rocket Internet GmbH (RI), a global online venture builder. Kaymu Eurasia has identified IFC as a potential strategic partner in its endeavor to significantly expand its e-commerce footprint in Eastern Europe and Central Asia and has invited IFC to provide equity capital to support its growth (the Project).
The Project''s expected development impacts include: (i) job creation in the areas of marketing and IT services and indirectly through supply chains, logistics, and other supporting services; (ii) transfer of technology by replicating proven internet business concepts in emerging markets with the goal of turning its ventures into local/regional market leading companies in the online retail space; and (iii) benefit to consumers in frontier regions and secondary cities through more choices, lower prices and convenient service with home delivery.
Digital Services Xvi SARL
Sacha Poignonnec MD Global Kaymu 18 rue de Londres 75009 Paris, France Telephone: +33-6 32 06 19 44
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The Project will support the development of Kaymus operations in Eastern Europe and Central Asia.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
Q-BA - Retail (Including Supermarkets, Grocery Stores, etc.)
Total: $12.47 million
12470000.00
12470000.00
Digital Services Xvi SARL
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/35214/esip-kaymu-project
XM-DAC-903-SII-38083
International Finance Corporation
Soufflet LT
Groupe Soufflet (Soufflet or the Group) is a mid-size, vertically-integrated, global agribusiness group whose main activities include the procurement, primary processing and trading of grains - primarily wheat and barley. With presence in 18 countries, the Group is a leading agricultural input distributor, grain originator, grain exporter, wheat miller and industrial baker in its home-base of France as well as a global market leader in malting. The project entails support to the Groups strategy in Europe and Central Asia (ECA) to (i) increase the capacity and improve E&S standards of its grain silos; (ii) improvement and maintenance capex at the malting plants; and (iii) maintain a buffer to support growth and absorb the impact of grain price volatility on its WC needs (the Project). The Project will directly support the Groups financing needs in Ukraine, Kazakhstan, Romania and Poland (collectively, the Project Countries).
The development impact of the Project is expected to include: (i) Small-holders reach as the IFC financing will be channeled by Soufflet throughout the agricultural supply chain; (ii) Improved food security through increased productivity and investments agricultural infrastructure in countries with strong potential.
SOUFFLET FINANCES
Ms. Marie-Ange Mathieu, Chief Financial Officer Address: Quai du General Sarrail, 10400 Nogent sur Seine Cedex, France Tel: +33 3 2539 41 11 Email: mailto:treasury@soufflet.com Website: http://www.soufflet.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Address: Quai du General Sarrail, 10400 Nogent sur Seine Cedex, France Tel: +33 3 2539 41 11
Eastern Europe Region
IFC financing will be directly used to support Soufflets capital expenditures and working capital needs in Ukraine, Kazakhstan, Romania, and Poland.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
F-AA - Grain Processing (Milling, Starch, Flour, Malt)
Total: $34.19 million
34190000.00
34190000.00
SOUFFLET FINANCES
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/38083/soufflet-lt
XM-DAC-903-SII-39573
International Finance Corporation
Schwarz EE V
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } Kaufland, a chain of hypermarkets with primary focus on food retail, is continuing its store expansion across Romania and Bulgaria and plans to open new Kaufland stores in Moldova (the Project). The Schwarz Group, owner of Kaufland and one of the leading European food retailers , has requested IFC to provide a long-term loan to partially finance the next two years investment plan of Kaufland in Romania, Bulgaria and Moldova (the Target Countries).
- Affordable goods: Modern retail distribution introduces efficiencies which enables low pricing at high quality standards. The share of modern retail in food in Romania and Bulgaria is about half that of developed countries and even lower in Moldova. Expansion of organized retail in the Target Countries will promote access to affordable and high quality food products for low to middle income households.
- Food safety: Modern retail formats contribute to food safety by improving supply chain efficiencies and reducing food wastage. Local procurements will encourage local producers to apply best practices in their production and operations, thus ensuring quality and safety.
- Employment generation: The Project is expected to generate significant direct employment in the new stores, indirect employment in the supply chain as well as temporary employment during construction. Typically, women constitute more than 50% of the direct employment in retail stores.
- Green buildings: New stores expansion through the Project is expected to have energy efficiency features and showcase green building best practices, which will potentially have a demonstrational effect on local building standards.
D. SCHWARZ BETEILIGUNGS KG
Schwarz Dienstleistung KG Ms. Gamze Macit Senior Professional +49 7132 30 797901 gamze.macit@mail.schwarz Stiftsbergstraße 1, 74172 Neckarsulm
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } Kaufland România SCS Str. Barbu Vacarescu Nr. 120-144 020284 Bucuresti - Sector 2 Romania Kaufland Bulgaria EOOD & Co. KD, Address: Skopje str. 1A 1233 Sofia Bulgaria
Eastern Europe Region
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Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
Q-BA - Retail (Including Supermarkets, Grocery Stores, etc.)
Total: $213.50 million
213500000.00
213500000.00
D. SCHWARZ BETEILIGUNGS KG
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/39573/schwarz-ee-v
XM-DAC-903-SII-39423
International Finance Corporation
Hystead Limited
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The proposed Project consists of providing an IFC A Loan of up to EUR60 million and a parallel loan of up to EUR45 million, mobilized by IFC, to support the expansion of Hyprop Investments Limited (South Africa) and PDI Investments Limited (Mauritius), into Central and Eastern Europe (CEE) following their acquisition of three operating shopping malls in Belgrade, Serbia; Podgorica, Montenegro; and Skopje, FYR Macedonia.
The proposed investments shall be used to refinance existing debt of the mall entities and therefore provide a more sustainable capital structure, and to finance the upgrade and/or expansion of the malls. The malls are each owned by locally incorporated private companies that are 100% subsidiaries of Hystead Limited, UK ("Hystead" or the "Company).
- Improved overall standards and setting standards: The Project is also contributing to the overall improvement of quality standards in Serbia, Montenegro and Macedonia, through meeting IFC's E&S standards, including an international life and fire safety (LFS) standard and is expected to demonstrate and transfer knowledge on best practices to other operators in each market.
- Green building certification: The malls will adopt international green building standards, which is expected to contribute to improvements in water and energy efficiency for the facilities in Serbia, Montenegro and Macedonia.
- Skills Transfer: The Company will implement a training program through its management team, building on its existing operations and training program in South Africa, and by setting up cooperation with local educational institutions to support their newly developing CEE operations.
HYSTEAD LIMITED
Hystead Limited Pieter Prinsloo Chief Executive Officer +27 (0) 11 447 0090 pieter@hyprop.co.za 2nd Floor 21 Cradock Avenue, Cradock Heights, Rosebank https://www.hyprop.co.za/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
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Hystead Limited
2nd Floor 21 Cradock Avenue, Cradock Heights, Rosebank
Eastern Europe Region
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The Project assets (shopping malls) are in (i) Belgrade, Serbia, (ii) Podgorica, Montenegro and (iii) Skopje, FYR Macedonia.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
D-AA - Construction and Real Estate
Total: $71.02 million
71020000.00
71020000.00
HYSTEAD LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/39423/hystead-limited
XM-DAC-903-SII-38692
International Finance Corporation
DARP APS 2 Project
0 0 0 0 0 0 0 0 0.0000 The proposed project consists of an investment program with a regional partner-servicer to support the acquisition and resolution of distressed assets in Europe & Central Asia (ECA). IFC proposes to become an anchor investor in a regional distressed asset resolution platform (the Platform) as well as to take a minority equity investment in a regional distressed asset servicing and asset management company. Accordingly, the Project represents a further step in IFCs programmatic response to develop a regional resolution mechanism for the high stock of NPLs in ECA . Through the proposed project, IFC will play an important role in i ) mobilizing capital from the private sector, ii) supporting the development and application of best practice distressed asset resolution techniques across the ECA region, iii) supporting banks in IFC countries of operation to restructure their balance sheets in the aftermath of the financial crisis, and iv) providing liquidity for new lending into the economy.
Stakeholder Impact: IFC anticipates that the project will support banks in IFC countries of operation in ECA to rehabilitate their balance sheets, reduce their NPL ratios and cure the high volumes of distressed assets built up in the aftermath of the financial crisis. In addition, the project will provide extra liquidity to vendor banks which can be used for new lending into the economy. Moreover, the project is expected to assist over-indebted small and medium sized enterprises ("SMEs") and consumers to become free of debt and to regain access to the formal economy. Market Competitiveness: The project will be an important catalyst in developing capacity and best practice for distressed asset resolution across the ECA region. Resilience: IFC expects the project to result in lasting systemic improvements to the distressed asset market in ECA. The project will have a demonstration effect for the market for portfolio sales. A strong secondary market serves as a stabilizing factor in financial systems, giving banks a way to re-allocate capital towards more productive assets.
APS INVESTMENTS SARL
APS Holding a.s. Antonín Pfleger COO, Member of BoD +420 225 377 450 apfleger@aps-holding.com Celetná 988/38, 110 00 Praha 1, CZ http://global.aps-holding.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
O-FC - Distressed Assets Servicer
Total: $124.67 million
116790000.00
7880000.00
116790000.00
APS INVESTMENTS SARL
7880000.00
APS INVESTMENTS SARL
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/38692/darp-aps-2-project
XM-DAC-903-SII-41937
International Finance Corporation
Earlybird II
The proposed transaction is an equity investment in Earlybird Digital East Fund II (the Fund, or Fund II or DEF) , a venture capital (VC) fund that will invest in technology companies in Turkey and Central Eastern Europe.
Increased access to risk capital for technology startup
Increased Investee Growth
Improved Competitiveness by catalyzing creation of other fund managers
Improved competitiveness in relevant target sectors by encouraging incumbents to leverage technology
EARLYBIRD DIGITAL EAST FUND 2012 SCA SICAR
Earlybird https://earlybird.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
Turkey and Central Eastern Europe
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
P-BB - Venture Capital Fund
Total: $22.27 million
22270000.00
22270000.00
EARLYBIRD DIGITAL EAST FUND 2012 SCA SICAR
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/41937/earlybird-ii
XM-DAC-903-SII-41874
International Finance Corporation
Martur II Project
Established in Bursa, Turkey in 1985, Martur Sunger ve Koltuk Tesisleri Tic. Ve San. A.S. (Martur or the Company) together with its subsidiaries engage in design and manufacturing of seats as well as other interior parts for passenger cars and light commercial vehicles. The Company has production facilities in Turkey, Romania, Russia, Algeria, Poland and is in the process of expanding into Morocco. The project entails financing of Marturs expansion investment program in Romania, Morocco and Algeria (the Project).
The Project's expected development impact includes (i) increased employment and skills development, (ii) value addition and supply chain linkages in Romania, Morocco and Algeria, and (iii) increased stakeholder benefits (i.e. customer benefits via better access to wider variety of components and parts; supplier benefits via additional domestic purchases). Beyond the project, IFC anticipates the investment will help increase the competitiveness in the auto-parts industry in Romania, Morocco and Algeria.
MARTUR SUNGER VE KOLTUK TESISLERI TICARET VE SANAYI ANONIM SIRKETI
Martur Sunger ve Koltuk Tesisleri Ticaret ve Sanayi A.S. Mr. Yalcin Turker Board Member +90 212 345 0025 yturker@martur.com.tr Eski Buyukdere Cad. Park Plaza No:14, Sisli/Istanbul, Turkey http://www.martur.com.tr/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Point of Contact: Mr. Yalcin Turker Title: Board Member Email: yturker@martur.com.tr Telephone Number: +90 212 345 0025
Eastern Europe Region
The proposed IFC investment is planned to be utilized in the Companys facilities in Romania, Morocco and Algeria.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
M-CD - Automotive and Light Vehicle
Total: $50.16 million
50160000.00
50160000.00
MARTUR SUNGER VE KOLTUK TESISLERI TICARET VE SANAYI ANONIM SIRKETI
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/41874/martur-ii-project
XM-DAC-903-SII-45465
International Finance Corporation
Soufflet Corp
Established in France in 1900, Soufflet is privately-owned by the Soufflet family through Ets. J Soufflet SA, a holding company incorporated in France. Groupe Soufflet (Soufflet, or the Group) is vertically integrated agribusiness group that operates in in wheat & barley value chains, together with rice and pulses sectors and advises wine growers. It has operations in 22 countries globally, including 9 ECA countries. The Group is a leading direct buyer of cereals in Europe and also operates in the international cereal markets. In the barley sector, it is one of the worlds top malt producers, with a presence in Europe, Asia, Africa and South America, while it is one of Europes leading wheat millers and an expert in developing tailormade ingredients. The Group also develops and manufactures enzymes and yeasts and is a significant player in the industrial bakery sector industry in France and Portugal and is also active in the fast food sector. The Group invests in research and innovation to enhance the value of agricultural resources.
The Project has an Anticipated Impact Measurement and Monitoring (AIMM) rating of Satisfactory to Good. The most significant, expected Project-level outcome is the impact on farmers' access to markets and quality inputs as well as its contribution to global food security.
SOUFFLET FINANCES
Groupe Soufflet Group Financial Communication Treasury & Financing, Soufflet +33 3 2539 41 11 comfin@soufflet.com Quai du General Sarrail, 10400 Nogent sur Seine Cedex, France http://www.soufflet.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Address : Quai du General Sarrail, 10400 Nogent sur Seine Cedex, France Tel: +33 3 2539 41 11
Eastern Europe Region
The IFC financing will be used in the five Project Countries - Ukraine, Romania, Bulgaria, Kazakhstan and Poland.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
F-AA - Grain Processing (Milling, Starch, Flour, Malt)
Total: $59.17 million
59170000.00
59170000.00
SOUFFLET FINANCES
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45465/soufflet-corp
XM-DAC-903-SII-45240
International Finance Corporation
ISC-Eleven Project
IFC is considering an equity investment of up to EUR 3 million in Eleven Fund III (Eleven or the Fund) a Bulgaria based seed fund that is focused on opportunities across South-eastern Europe (SEE) with a primary focus on Bulgaria, Romania, Serbia, and Croatia. The Fund Manager is currently raising a EUR 55 million target Fund III with a target first close of 25 million. The fund will be managed by Daniel Tomov, Ivalylo Simov, Martin Ouzounov, Vassil Terziev and Valeri Petrov who possess strong operational and entrepreneurial experience
This investment is expected help support the local start-up ecosystems and further develop venture capital markets in the SEE region. Supporting the development of start-up and VC ecosystems also enables creation of a constant and quality pipeline of investment opportunities that investors at Series A stage and beyond depend upon
ELEVEN VENTURES
Contact for the project Valeri Petrov - Valeri@11.me
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
Eleven is legally structured as a EuVECA domiciled in the Netherlands however investments by the Fund will be across Bulgaria, Romania, Serbia, and Croatia
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
P-BB - Venture Capital Fund
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45240/isceleven-project
XM-DAC-903-SPI-10148
International Finance Corporation
Baltic SME Facility
The proposed project is an eight-year fund that would provide loan, quasi-equity and equity financing to a wide range of SMEs in the Baltics. The fund would have an investment period of four years and would expect to make approximately 30-40 investments with an average size of US$500,000 to US$1.5 million. A separate technical assistance (TA) facility would be mobilized through IFC donor TA trust funds to make available up to US$1.5 million in aggregate to portfolio companies of the fund for business plan preparation, industry-specific expertise, export marketing assistance, environmental management and financial management. The fund would be managed by Hanseatic Capital Management, LLC, a limited liability company to be organized by BalAEF. While SMEs play a major economic role in the Baltics - generating over 65% of employment, 20% of exports, and 45% of GDP - term finance for SMEs in the Baltics remains extremely scarce, with banks typically focusing on large private companies and foreign joint-ventures. In addition, Baltic SMEs lack equity capital; more than 90% of all companies are undercapitalized and thus constrained in their ability to expand and restructure. SMEs are also in need of upgraded management and technial and financial know-how to remain competitive in a more open market environment. The financing and TA that would be provided by the Fund is expected to address these needs. IFCs involvement as a lead investor and its input into structuring the fund would be crucial in mobilizing private and public participation and raising funds for the TA facility.
Hanseatic Capital, LLC
Richard C. Sheridan President & CEO Baltic-American Enterprise Fund 1625 K Street, NW Suite 903 Washington, DC 20006 fax: (202) 835-0955
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The Fund would be organized as a limited partnership in Delaware, and would have offices in Tallinn (Estonia), Riga (Latvia), and Vilnius (Lithuania). Investments would be made throughout Estonia, Latvia, and Lithuania (the Baltics).
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
CA - Finance Companies
Total: $7.50 million
0.00
7500000.00
0.00
Hanseatic Capital, LLC
7500000.00
Hanseatic Capital, LLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10148/baltic-sme-facility
XM-DAC-903-SPI-10446
International Finance Corporation
Euromedic International
The project involves: (i) expansion of the existing network of Euromedic diagnostic imaging centers in Hungary; (ii) establishment of a network of diagnostic imaging centers in other CEE countries; and (iii) establishment of a network of hemodialysis centers in the region. Most centers are located in local hospitals and space is leased from the associated hospital. Existing centers are certified to the ISO 9002 quality management system international standard, and new centers are in the process of becoming certified. Each center has (or will have) established policies and procedures related to patient and employee health and safety and waste management. Through the project, Euromedic is extending high quality private healthcare to large and diverse portions of local population thus improving both access to and equity of services. The diagnostic centers are expected to speed the delivery of high quality imaging that will enable faster and more accurate treatment of patients. Euromedic hemodialysis centers have the potential to save the lives of hundreds of patients who would die within weeks of developing end stage renal disease (ESRD) without access to treatment. In addition, by improving the quality of dialysis care, Euromedic will contribute to cost savings due to reduced annual hospitalization and shorter length of annual disability of ESRD patients. IFC''s primary role will be to provide long-term financing, which is difficult to obtain on reasonable terms for healthcare projects in the countries of Euromedic''s operations. Although some local banks have shown interest in the health sector, their financing is generally limited to short-term loans or leasing.
Euromedic Diagnostics B.V. & International Hemodialysis Centers B.V.
Mr. Joseph Priel, President, Fax (36-1) 267-5312.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
Euromedic is headquartered in Budapest, Hungary.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
AA - Hospitals and Clinics
Total: $13.00 million
13000000.00
13000000.00
Euromedic Diagnostics B.V. & International Hemodialysis Centers B.V.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10446/euromedic-international
XM-DAC-903-SPI-10586
International Finance Corporation
Baring Vostok Private Equity Fund
The Fund will have a term of eight years and a target capitalization of US$150 million, and will seek to realize significant returns through private equity and equity-related investments in privately owned companies in the Region. IFC Role: IFC participation will be instrumental in mobilizing a significant amount of additional capital for the Fund from other investors, especially from new investors that are not participants of the First NIS Fund. Although the Russian economy has improved much since the August crisis of 1998, this progress has had little impact on encouraging much-needed capital investment in the Region. In addition to stimulating more foreign investment, investing in this type of locally managed fund presents a more effective way for IFC to reach and invest in locally owned enterprises in the regions of the countries in question than is possible by direct investments. Developmental Impact: The Project will have a significant developmental impact by: i) channeling much needed long term investment capital to sectors considered to be crucial to the growth of the Region; ii) supporting viable regional enterprises (especially in Russia) ; iii) introducing new technologies and management disciplines; and iv) having a demonstration effect on other investors contemplating investment in the Region. IFC Strategy: Investment in the Fund fits well with IFC''s strategy in Russia in that it will support: i) mobilization of foreign direct investment and long-term debt financing; ii) investment in private sector infrastructure and natural resource development; and iii) development of locally owned businesses in the less advanced regions of the countries where they operate.
BARING VOSTOK FUND
Mr. Mike Calvey Managing Partner, Baring Vostok Capital Partners 10 Uspenski Pereolok, Moscow, Russia 103006
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
BVCP, the Fund manager, is located in Moscow and all the key investment professionals handling the Fund''s investments are also Moscow/Kiev based. The Fund will make investments primarily in Russian companies, but also in companies in other parts of the former Soviet Union (collectively, the "Region") such as Ukraine.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $15.00 million
15000000.00
15000000.00
BARING VOSTOK FUND
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10586/baring-vostok-private-equity-fund
XM-DAC-903-SPI-11626
International Finance Corporation
Bancroft II L.P.
Bancroft II will be formed by Bancroft UK Limited to achieve attractive investment returns through a portfolio of diversified companies in Central and Eastern Europe. The main investment focus will be on later-stage businesses, with proven management, strategic assets, and sizable exports or fast growth locally. Bancroft UK Limited will add value through active investment management, control or majority ownership positions, and board participation. Development Impact: The fund will contribute to the economic development of the region by supporting 10 to 15 companies who lack equity financing and managerial and strategic support to make them regionally and globally more competitive and therefore more attractive to other investors. After having grown strongly in the early to mid- 1990s, private equity fund raising for the Central and Eastern Europe region has dropped sharply. The fund, using a disciplined and thorough investment approach, will help demonstrate that the private equity model can be successful in Central and Eastern Europe, attracting further private equity resources to the region. If private equity is successful, public markets are likely to become increasingly viable. IFC Role Over the past year, the international and regional economic environment has deteriorated, decreasing investor confidence. IFCs commitment to the fund will signal IFCs support to private equity in Central and Eastern Europe at a time of increased investor anxiety and will enhance the funds credibility in markets where IFC has a strong active presence. It will also assist the fund with networking opportunities, and to achieve a critical economic size, maximize its impact and demonstration effect. IFC will be involved in strategic planning and governance issues of the fund. Among other things, IFC will be a member of the funds Advisory Committee, which will deal with governance issues at the fund level. Finally, IFC will play an important role in the definition of corporate governance and environmental standards at the investee company level, contributing to the sustainability of the funds investments.
BANCROFT 2 L.P.
Mr. Fred Martin, Chief Executive Officer Bancroft UK Ltd 251 Brompton Road, London SW3 2EP United Kingdom Phone: + 44 207 823 9222 Fax: + 44 207 589 3442 Email: martin@bancroftgroup.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The fund will be formed as an English limited partnership. The geographical focus of investments will be the Central and Eastern Europe region and the investment team will be operating from wholly-owned offices in London, Prague, Budapest, and a planned new office in Belgrade.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $19.84 million
19840000.00
19840000.00
BANCROFT 2 L.P.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11626/bancroft-ii-l-p
XM-DAC-903-SPI-22328
International Finance Corporation
Schwarz Group
Schwarz Group (the Group or the company) is one of the largest European discount retailers. It operates two types of discount food stores in Europe: - Lidl, limited range deep discount stores; and - Kaufland compact discount hypermarkets. The purpose of the project is for the company to plan a large expansion program, involving the establishment of a number of new stores and hypermarkets in Central and Eastern Europe to be implemented over the next couple of years.
D. SCHWARZ BETEILIGUNGS KG
To contact the project company please write in English or German to: Schwarz Beteiligungs-GmbH Sekretariat Finanzen Stiftsbergstr.1 74172 Neckarsulm, Germany
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The Groups new stores are planned to be located in selected urban areas of target countries in Central and Eastern Europe. All locations for the new stores will have good access to transportation routes and other infrastructure.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BA - Retail (Including Supermarkets, Grocery Stores, etc.)
Total: $142.67 million
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/22328/schwarz-group
XM-DAC-903-SPI-22816
International Finance Corporation
Advent Central and Eastern Europe III L.P.
This project is a proposed IFC investment of up to 15 million in Advent Central and Eastern Europe III L.P. (ACEEIII), a new regional private equity fund managed by Advent International (Advent). The purpose of the fund is to achieve significant capital appreciation from a portfolio of expansion-stage and buy-out investments in selected countries in Central and Eastern Europe. The approach of ACEEIII will be two-fold. One focus will be on industry restructuring through acquisitions, and particularly buy-outs, in a size range that will enable the fund to invest 20-40 million. The second focus will be on smaller development and expansion opportunities in the 10-20 million range, particularly in second-wave accession countries, which are less-developed in terms of industry restructuring. ACEEIII follows the proven track records of two predecessor funds (in which IFC has invested), and will be managed by a team whose members, in majority, have worked together for more than six years.
ADVENT CENTRAL AND EASTERN EUROPE III LP
Joanna M. James, Advent International plc
123 Buckingham Palace Road
London, SW1W 9SL
Phone: +44 +(0)20 7333 0800
Fax: +44 +(0)20 7333 0801
Email: James@uk.adventinternational.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
ACEEIII will be established as a Delaware, U.S., limited partnership, and its investments will focus primarily on the countries in Central and Eastern Europe where Advent has a local presence, namely: Poland, Hungary, Czech Republic, Slovakia, Romania, and Turkey. It may also invest selectively in Slovenia, Croatia, Bulgaria, Serbia, Latvia, Lithuania, and Estonia, and, with specific Advisory Board approval , in Russia.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $17.59 million
17590000.00
17590000.00
ADVENT CENTRAL AND EASTERN EUROPE III LP
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/22816/advent-central-and-eastern-europe-iii-l-p
XM-DAC-903-SPI-24351
International Finance Corporation
Emerging Europe Convergence Fund II, L.P.
The Emerging Europe Convergence Fund II, L.P. (EECF II, or the Fund), is a 10-year closed-end regional private equity fund formed by Mid Europa Partners LLP (MEP), with the objective to achieve superior returns through a portfolio of investments primarily in mature, cash-flow generative companies in sectors with high barriers to entry based in the markets of the new European Union members and the EU accession candidate countries (Emerging Europe, or the Region).
The Fund is targeting total capital commitments of 500 million, and expects to have a first closing in late June/early July, 2005.
EMERGING EUROPE CONVERGENCE FUND II, L.P.
William B. Morrow
Managing Director & Chief Operating Officer
Tel: +44 (0) 20 7886 3603
Fax: +44 (0) 20 7886 3639
Mobile: +44 (0) 77 2007 4638
E-mail: wbmorrow@emplondon.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The region in which EECF II is planning to invest includes both countries that recently joined the EU (Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia) and accession candidate countries (Bulgaria, Croatia, Romania). Also EECF is contemplating investing up to 20% of its capital in other countries (such as Russia and Ukraine).
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $25.84 million
25840000.00
25840000.00
EMERGING EUROPE CONVERGENCE FUND II, L.P.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24351/emerging-europe-convergence-fund-ii-l-p
XM-DAC-903-SPI-24852
International Finance Corporation
Marbleton Property Fund LP
An investment of up to $20 million in the Marbleton Property Fund, L.P. (Marbleton or the Fund), a new fund that will invest in a diversified portfolio of real estate projects in Russia, Ukraine and other Commonwealth of Independent States (CIS) countries. The Fund has a target size of $150-200 million in Limited Partner commitments and will be managed by a team of senior professionals from JER Partners (JER) and Alfa Capital Partners (ACP) (collectively, the Sponsors).
The Marbleton Property Fund LP
Jon Hodnett, Director JER Partners Tel: + 44 (0) 20 7291-4900 jon.hodnett@jer.com Richard Sobel, CEO Alfa Capital Partners Tel: +7 495 775-1828 ssobel@alfacap.ru
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The management team is headquartered in Moscow. The fund will make investments in Russia, Ukraine, and other CIS countries.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BC - Private Equity/Venture Cap Fund - Sector
Total: $20.00 million
20000000.00
20000000.00
The Marbleton Property Fund LP
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24852/marbleton-property-fund-lp
XM-DAC-903-SPI-508357
International Finance Corporation
Private Enterprise Partnership - Extension
In May 2000, the Board approved an IFC contribution of 12.6 million over a three-year period to create the Private Enterprise Partnership and support the implementation of donor-funded technical assistance programs in the former Soviet Union. This project, which begins on July 1, 2003, extends the partnership program for three additional years. Partnership program: The objectives of the partnership are to: support the creation and growth of small and medium-sized enterprises (SMEs); promote capital investment; and improve the business enabling environment. The partnerships projects fall into four program areas: (1) Linkages: building supply and distribution chains; (2) building financial markets; (3) SME business support services and policy advice; (4) corporate governance. IFC role: The formation of the partnership in June 2000 has since led to increased effectiveness, improved practices, and increased impact of IFCs technical assistance in the FSU. While donor funding is used to finance specific programs in the former Soviet Union, IFC provides the administrative and managerial structure that supports project work. The added value of the partnership includes: · solid financial management and internal control systems; · capacity to develop new programs; · strong monitoring and evaluation; · a communications strategy for the region; · solid financial management and internal controls; and, · a dedicated team of local and expatriate professionals supported by effective human resource management. Closer links with investment work : The linkages with investment work are achieved through close cooperation with investment staff. The partnership has a manager focused on projects in the financial sector, two managers working with a supply chain specialist focused on the real sector, one manager focused on agribusiness projects, and a fifth dedicated to corporate governance. These staff work closely with their investment counterparts to develop projects that address obstacles to investment by IFC and other investors and/or link to an existing IFC investment to increase the development impact on the local community. This has already proved successful in the leasing and dairy sectors, and new initiatives are underway in forestry, furniture, mining, shipbuilding, and paper products. Developmental impact: The impacts of the partnership on the private sector in its first two years have been significant: · Establishment of long-term business relationships between local enterprises and foreign investors; · Increased access to financing for SMEs, including credits, leasing finance, and direct investment; · Improvements in the business enabling environment, in areas affecting agriculture, leasing, corporate governance, and general regulation of SMEs; · More effective and sustainable local institutions, including business associations, providing SMEs with financial, advisory, and advocacy services; and, · Improved protection of shareholders rights and corporate governance. The partnership trains and consults local firms to strengthen their abilities to partner with foreign investors, particularly as suppliers. This increases opportunities for local firms to grow, improves conditions for investment, and increases the development impact of existing investments, all to the benefit of local communities. Many of these projects involve an IFC investment and substantially increase the development impact of IFCs financing. An extension of the partnership will enable this work to continue, as well as allow it to develop new program areas. Some possible areas are micro-finance and micro-leasing, housing finance, quality development for local manufacturers, alternate dispute resolution, corporate governance for the banking sector, and energy efficiency.
INTERNATIONAL FINANCE CORPORATION
David Lawrence, Senior Operations Officer Email: dlawrence@ifc.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The partnership is based in Moscow, Russia, and has country offices in the capital cities in Ukraine, Belarus, Uzbekistan, Kyrgyzstan, and Tajikistan. Field offices in regional cities operate in Russia, Ukraine and Tajikistan.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
XX - Other
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/508357/private-enterprise-partnership-extension
XM-DAC-903-SPI-537783
International Finance Corporation
Private Enterprise Partnership - Phase 3
The IFC Private Enterprise Partnership (PEP) is the technical assistance (TA) facility for the former Soviet Union, specifically covering the countries of Armenia, Azerbaijan Belarus, Georgia, Kazakhstan, Kyrgyz Republic, Moldova, Mongolia, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan. The creation of PEP was initially approved by the Board in May 2000 for a three year period (IFC/R2000-75 dated May 8, 2000) and extended in September 2002 (IFC/R2002-0191) for a further 3 years (FY04-FY06). This project represents an extension of the program for an additional five years (FY07-FY11), commencing July 1, 2006.
INTERNATIONAL FINANCE CORPORATION
Christian Grossmann, DirectorIFC Private Enterprise Partnership Bolshaya Molchanovka 36, bldg 1 Moscow, Russia 121069 +7 095 411 7555
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
PEP is based in Moscow, Russia and has country offices in the capital cities of Ukraine, Belarus, Uzbekistan, Kyrgyz Republic, Tajikistan, Georgia and Azerbaijan. Field offices in regional cities operate in Russia, Ukraine, Kazakhstan and Tajikistan.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
XZ - Other
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/537783/private-enterprise-partnership-phase-3
XM-DAC-903-SPI-25113
International Finance Corporation
Detroit Investments
Detroit Investments Ltd. (DI or the company), a Cyprus-based entity, is the main investment vehicle of the Detroit Group which is involved in the production and distribution of beverages (beer, mineral water, fruit juices) in Belarus and Russia. DI is also the sponsor of two IFC projects: DBBC and PIP-Vladpivo. Detroit Investments requested for further IFC support as the company expands into the juice sector in Belarus and the IT services sector in Russia. IFCs investment and participation in this transaction will facilitate the establishment of the first commercial juice company in Belarus via the privatization of underperforming assets and support DI, an existing client, as it diversifies into a regional player and enters the IT services sector. DI will be acquiring a minority stake in BAC, a Russian IT services provider, that provides systems integration and business application services to the agribusiness, finance, telecommunications and transport sectors. Note: This SPI was updated to incorporate information about DIs investments in the IT sector in Russia in lieu of its original plans to invest in the retail sector in Belarus.
- Private sector development: DI plans to expand in the juice sector via the privatization of underperforming assets in a frontier country. To date, there has been negligible progress on the privatization front and little Foreign Direct Investment (FDI) in Belarus. DIs Investment Program is likely to be a catalyst for further FDI. DI will rehabilitate and transform idle assets into a juice plant that will be comparable to international production standards. This will result in the production of safe and affordable juice products that will be available to a wider segment of consumers and serve as a vital source of vitamins during the colder season. The successful privatization of a high-visibility company will have tremendous demonstration effects beyond the immediate sector. - Employment and living standards: The juice plant will be significant employer in their respective local municipalities. These operations will create new and direct employment and provide indirect job opportunities along its supply chain. Additional jobs will also be created indirectly as the company develops its transport and distribution networks. In the IT sector, BAC has more than 500 employees and is expected to employ more than 1,000 people in the next 2-3 years. BAC has in-house training programs on leading software applications that provide specialized knowledge and capacity building for its employees. - Backward and forward linkages: The establishment of the beverage operations will help create a class of micro-entrepreneurs who run small retail outlets, kiosks, restaurants and transport companies. This investment will also facilitate the transfer of modern distribution, warehousing and retail techniques and enhance supply chain efficiency in Belarus. - Offering consumers a more affordable and reliable IT services The development of local IT service companies will provide end-users will more affordable, reliable and efficient IT services.
Detroit Investments
Mr. Nicholas Henderson-Stewart Detroit Investments Ltd. 3/1 Barykovsky Alleyway Moscow, 119043 Russia
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The juice plant will be established by the company on the site of a state-owned vegetable canning plant in Bobruisk. The company will purchase the plant in a privatization transaction with the administration of the Mogilev region. The old vegetable canning plant was built in the early 1990s and had never started functioning to its full capacity due to the economic decline associated with the transition in the 1990s. In January 2006 the plant effectively stopped its operations. The brownfield site (5.4 Ha) currently contains several production facilities with infrastructure, few unfinished constructions and dilapidated equipment in the production areas. DIs IT project is headquartered in Moscow with key branch offices in Kazan Perm, Omsk and Saransk.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BA - Soft Drink
Total: $40.00 million
35500000.00
4500000.00
35500000.00
Detroit Investments
4500000.00
Detroit Investments
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25113/detroit-investments
XM-DAC-903-SPI-26312
International Finance Corporation
Drujba_Bucha
The project is the expansion of Drujbas (Drujba A.D.), and the expansion and modernization of Buchas (Buchansky Glassworks Plant Limited Liability Company) glass container factories. The project is to be implemented at Drujbas site in Plovdiv, increasing annual capacity from 275,000 tons to 310,000 tons, and at Buchas Kiev site, increasing annual capacity from 52,000 tons to 80,000 tons. It also includes expansion of warehouses at both sites and building renovation at Bucha. The project will also include installation of automatic cullet washing and sorting lines at Drujbas Sofia site, and at Bucha, to increase use of external cullet, thus reducing raw material and energy use in glassmaking.
Drujba and Bucha are owned by Yioula Glassworks S.A. (Greece), an existing IFC client. The projects are part of Yioulas strategy to move production into eastern Europe. It has owned Drujba since privatization in 1997 and acquired Bucha in March 2006.
The projects will increase output of quality glass containers and help strengthen upstream and downstream supply chains with respect to raw material procurement, product distribution and marketing, and financing in Bulgaria and Ukraine. Since Bulgarias total glass container production already exceeds total domestic demand, increased local production of high quality local containers from the project at Drujba will increase export revenues for the country.
The project at Bucha will transform an inefficient, underutilized glass facility into a competitive supplier, facilitate efficient use of energy and raw materials, and help raise productivity levels in Ukraine. Yioula will transfer management expertise, technological know-how, advanced marketing and sales techniques, and a proven quality control system to Ukraine and help build expertise in the country. Improved availability of modern, lightweight glass containers will allow domestic bottlers to install modern high speed bottling machines and modern closures, improving the competitiveness of Ukrainian exports, and allowing domestic bottlers to compete more effectively with imported products, benefiting the country and consumers and economy as a whole.
DRUJBA GLASSWORKS SA
- In Bulgaria:
Mr. Nikolaos Georgopoulos, Country Manager
Telephone: + 352 2 921 6551
Drujba Glassworks S.A.
15 G Benev Street
4003 Plovdiv, Bulgaria
and
Drujba Glassworks S.A.
1 Prof I Gheorgov Street
1220 Sofia, Bulgaria.
- In Ukraine:
Mr. Anastassios Poulopoulos, Country Manager
Telephone: + 38 050 446 14 15
Bucha Glass Factory Ltd
84, Kirova Street,
Bucha
Kyiv Region,
08294 Ukraine
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The project at Drujba is located at the companys plant in Plovdiv, Bulgaria, which is situated about 130 km southeast of Sofia. The site has access to the main railway line and truck roads. The project at Bucha is located at the companys plant 30 km outside Kiev. It also has railway and good road access.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
CA - Glass and Glass Products (Including Glass and Mineral Wool)
Total: $32.50 million
32500000.00
32500000.00
DRUJBA GLASSWORKS SA
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26312/drujba_bucha
XM-DAC-903-SPI-26601
International Finance Corporation
Emerging Europe Growth Fund II LP
Emerging Europe Growth Fund II (EEGF II or the Fund II) is a private equity fund that will invest in fast-growing mid-size private companies in Ukraine, Moldova and Belarus. The Fund has a target size of $300 million. First closing is expected by December 2007 and is estimated at $50 million. Fund II will seek majority or influential minority stakes in a diversified portfolio of mid-cap private companies in the region, focusing on expansion and buyout opportunities in core industries serving the emerging middle class, including financial services, consumer goods, retail and industrial goods.
- Private sector development: The Fund will add value to its investee companies, by providing managerial and strategic support to improve their competitiveness and sustainability. - Implementation of best practice for corporate governance in portfolio companies: The Fund will adopt international best practices for corporate governance and management, as well as transparency, thus fostering knowledge and skill transfer, and encouraging best practices across the industry. - Growth in employment and labor productivity: The Fund is expected to invest in growth stage companies that will increase employment at a high growth rate. - Support for Small and Medium Enterprises (SMEs): Some of the Funds investee companies are expected to be SMEs at the time of acquisition.
EMERGING EUROPE GROWTH FUND II, LP
Natalie Jaresko, Managing Partner 4 Muzeyny Provulok, 3rd Floor, 01001 Kyiv, Ukraine Tel: +38 044 490-5580 Fax: +38 044 490-5589
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The Fund and the Manager will be registered and incorporated in the Delaware. The management team will be based in Kiev, Ukraine.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $20.00 million
20000000.00
20000000.00
EMERGING EUROPE GROWTH FUND II, LP
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26601/emerging-europe-growth-fund-ii-lp
XM-DAC-903-SPI-27973
International Finance Corporation
Veolia Voda
Veolia Voda (the Company) operates water and sanitation infrastructure (water treatment plants, water distribution systems, wastewater treatment plants, sewerage collection systems) owned by municipalities or associations of municipalities in the Czech Republic, Slovakia, Hungary and Poland. Apart from a few exceptions (concessions or operating models with limited contractual investments), the Company does not own these assets. The vast majority of its contracts involve only the operation and maintenance of the systems. Over the next 12 months, the Company plans to enter the Russian and Ukrainian water and sanitation sectors, as well as explore other opportunities in Central and Eastern Europe. To support the Companys expansion into these new markets, IFC is considering an equity investment in Veolia Voda for up to 50 million. Veolia Voda is 90 percent owned by Véolia Eau-Compagnie Générale des Eaux (CGE), the worlds largest water services company. Since 2007, EBRD has owned the remaining 10 percent stake in the Company.
The challenges in the water sector in this region, where access is almost universal, include inadequate and deteriorating infrastructure, high levels of leakage and poor water quality. Insufficient funding for maintenance is a pervasive weakness contributing to most of these issues. Capital is needed to rehabilitate aged infrastructure, increase the efficiency of utilities and improve water quality and sanitation services. Safe drinking water and better waste treatment impact health and productivity directly. Veolia Voda has demonstrated its ability to enter the water sectors of post-Communist markets in central Europe, achieve significant improvements in operations and generate returns for the long term upgrading of the networks. Through its entry into Russia and Ukraine, the Company will be able to bring more reliable service, address issues of declining water quality and pollution due to poor treatment of waste and through better management, to mitigate the long run costs of maintaining their water and wastewater networks. Veolia Voda is active on a regional scale in Eastern Europe and has a strong and stable base from which to enter higher growth markets. In addition to providing investment, the Companys engagement in these regions is likely to facilitate improved technical, operational, managerial, environmental, and corporate governance standards in municipalities in less developed regions. The target cities in Russia and the Ukraine lie outside the St. Petersburg- Moscow- Kiev axis and have had limited opportunities to benefit from direct foreign investment; The close partnerships required with the municipalities will promote the development of public-private partnerships (PPPs) and contracting-out of services in other sectors. This transaction therefore supports an important element of the World Bank Groups strategy for both Russia and Ukraine - investment through development of the PPP model.
VEOLIA CESKA REPUBLIKA, a.s.
Etienne Petit Deputy CEO Veolia Water Europe Veolia Eau 36-38, avenue Kleber, 75 799 Paris Cedex 16 France Tel. +420 606 608 609 www.veoliaeau.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The Company currently provides drinking water and/or waste water treatment through twenty water distribution companies: thirteen in the Czech Republic, two in Slovakia, four in Hungary and one in Poland. Several other subsidiaries provide common services to the water distribution companies. The Company is looking to expand east to Ukraine and Russia.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BA - Water and Wastewater Utilities
Total: $70.51 million
70510000.00
70510000.00
VEOLIA CESKA REPUBLIKA, a.s.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/27973/veolia-voda
XM-DAC-903-SPI-28606
International Finance Corporation
Dalkia DH Project
This investment supports a new holding company (the Company), expected to be established in France, using existing investments in district heating (DH) in the Baltic states as a platform, for expansion into district heating ventures in Russia, Ukraine and other CIS countries. DH networks in the CIS region represent a very large capital investment, comparable in scale to that of the regions power sector. Neglect of this capital stock has resulted in extensive water leakages, excess energy use and adverse environmental impacts. The investment proposed here directly addresses water conservation, energy efficiency and environmental improvement
The need for increased capital and operating expertise in the district heating networks of the former Soviet Union has been clear for many years. A decade long reform effort has recently attracted international industry capital and expertise to the power sector but low tariffs, constrained by limited affordability, has resulted in little progress in the heating sector. A number of domestic groups have entered the sector in recent years, often in conjunction with power distribution. They are new to the heating sector; achieving the improved technical performance they projected has proven a challenge and most are now also suffering from capital constraints. Effective intervention in this sector has the potential to deliver very considerable development impact.
Dalkia has demonstrated its ability to achieve significant improvements in the heating sectors of post-Communist markets in Lithuania and Estonia and to generate returns for the long term upgrading of the networks. It is the international industry investor best placed to make a region-wide impact on these systems.
Reduced water losses, energy savings and heat generation in CHPs create savings which allow improved maintenance and upgrading, the provision of an improved service and the preservation of important capital assets.
More efficient use of water and energy, conversion from HOBs to CHPs, and the increased use of renewable fuels in these CHPs, brings local environment benefits, which also contribute to climate change goals.
Improved technical, operational, managerial, environmental, and corporate governance standards in the heating companies will promote the wider development of PPPs and contracting out of services by municipalities.
Dalkia Eastern Europe
Bérengère Oster
Structuring Manager
Dalkia International
Quartier Valmy - 33 place Ronde
92981 Paris La Défense
France
Tel: +33 (0)1 7100 76 23
Fax: +33 (0)1 1700 73 00
Email: boster@dalkia.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
The assets of the Company will be in the Baltics and in CIS countries. Assets are expected to include refurbishment and rehabilitation of existing DH assets, combined heat and power plants, and heat only boilers.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BA - Water and Wastewater Utilities
Total: $122.93 million
122930000.00
122930000.00
Dalkia Eastern Europe
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/28606/dalkia-dh-project
XM-DAC-903-SPI-28709
International Finance Corporation
SEAF Caucasus Growth Fund
The proposed investment is in SEAF Caucasus Growth Fund (SEAF Caucasus or the Fund), a $60-70 million private equity fund, sponsored by Small Enterprise Assistance Funds (SEAF), that will invest in small and medium enterprises (SME) in the Caucasus region, primarily in the target countries of Georgia, Armenia, and Azerbaijan.
This project is in line with IFCs overall strategy for investments in the Caucasus region. The expected development impact of the project includes:
- Support of SMEs: All target portfolio companies in the fund will be SMEs.
- IDA Country Focus: The three target countries of Georgia, Azerbaijan and Armenia, are IDA-blend countries.
- Economic Development: Provision of long-term capital to sectors traditionally overlooked by the formal banking sector will allow companies to grow which can lead to increased output and increased employment.
- Private Sector Development: Manager employs a hands-on, value-added strategy with portfolio companies, providing professional management and operations support and expertise leading to better competitiveness and sustainability in SMEs.
- Support a nascent private equity industry in the Caucasus.
SEAF CAUCASUS GROWTH FUND C.V.
SEAF Management LLC
SEAF Caucasus Growth Fund
Suite 1150, 1050 17th Street, N.W. Washington, D.C. 20036 U.S.A
Tel: +1 (202) 737-8463
Fax: +1 (202) 737-5536
Armands Fomicevs
Esben Emborg
Georgia Regional Development Fund
#7, Niko Nikoladze str. II Floor
0108 Tbilisi
Georgia
Tel: +995 (32) 99 81 15
armands@seaf.ge
eemborg@seaf.ge
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
SEAF Caucasus Growth Fund will be incorporated in an acceptable jurisdiction, in Delaware USA or Cayman Islands based on investor preferences. The investment team is based in Tbilisi, Georgia and investments will be made in the Caucasus region, primarily in Georgia, Armenia, and Azerbaijan.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $10.00 million
10000000.00
10000000.00
SEAF CAUCASUS GROWTH FUND C.V.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/28709/seaf-caucasus-growth-fund
XM-DAC-903-SPI-28805
International Finance Corporation
DARP - EOS Project
The proposed investment with KG EOS Holding GmbH & Co (EOS), a leading servicer of distressed assets (DA), is to co-invest and risk share in the purchase of DA portfolios in Europe and Central Asia. Russia has been identified as a priority market and will be the initial focus.
The Project is part of IFCs Debt and Asset Recovery Program (DARP), an integrated three-year investment program undertaken by IFCs real and financial sector departments which aims to address the increasing levels of debt burden, debt roll-over risk, restructuring needs, and distressed assets in emerging economies.
Rationale: The share of non-performing loans (NPLs) to total loans has increased markedly in Emerging Europe since the beginning of 2008, particularly in Russia. EOS and IFC both believe that distressed asset and NPL resolution can have a material developmental impact on the private sector and provide a unique value proposition at multiple levels, while providing a satisfactory return for their stakeholders.
The development impact of a well-structured distressed assets transaction is well recognized. Such transactions contribute to the stability of the banking system by:
1. Improving balance sheet transparency as the current market value for distressed assets is established by the market value paid by the buyers;
2. Helping the banks enhance their capital adequacy levels to one that is more consistent with the risk of held portfolio; and3. Transferring non-performing loans to specialized entities that can efficiently resolve the assets.
EOS LLC
KG EOS Holding GmbH & Co
Steindamm 71, 20099 Hamburg
GermanyTel: +49 (0)40 2850-1180
Fax: +49 (0)40 2850-1500
http://www.eos-solutions.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
EOS is headquartered in Hamburg, Germany with offices in more than 20 countries. The proposed IFC investment will be made in a) Russia to purchase DA originated throughout Russia, and b) other countries to be decided by IFC and EOS.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
AJ - Commercial Banking - Distressed Assets
Total: $50.00 million
48000000.00
2000000.00
48000000.00
EOS LLC
2000000.00
EOS LLC
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/28805/darp-eos-project
XM-DAC-903-SPI-30067
International Finance Corporation
Soufflet ECA
The Project involves providing a multi-country A-Loan of up to 60 million - including IFC current exposure - to Soufflets Eastern Europe and Central Asia operations. The Project will mainly support Soufflet in Russia, Ukraine, Kazakhstan, while a small portion of the facility (up to 10 million) will also be used for Soufflets operations in Serbia and Romania. It will support Soufflets strategy to increase its presence and grow in ECA. Soufflet will use the proceeds of the IFC Loan to: (i) originate wheat, barley and other cereals; (ii) increase in-kind prefinancing to farmers and procurement of alternative grains and oilseeds; (iii) process grain into malt; and, (iv) support trading operations. The Loan will be committed as a 4-year A-Loan with a revolver feature, to match working capital cycles. In 2009/2010, Soufflet originated almost half a million metric tons (mt) of grain in these five countries, where the Company owns 4 silos. Soufflet also owns and operates 5 malting plants in the region that sold 377,000 mt of malt in 2009/2010. With a stabilized source of funds, Soufflet is expected to increase its origination volumes. This would in turn help the Company scale up its presence in the region, develop its input supply and farmers prefinancing, and diversify its procurement of grain beyond malting barley, which would ensure a better capacity utilization of its silos. This additional financing will also provide a buffer against the volatility of grain prices.
Project is to secure the working capital needs of a large regional player in the grain/oilseed/malt sector in five countries in a challenging economic context. The Project supports the long term strategic commitment of Soufflet to the region, where it expects to expand its activities in in-kind prefinancing of farmers (in the form of inputs), procurement of grains and oilseeds, storage and logistic services, malt processing and international trading. - SMEs, farmers, and employment. The Project will also carry significant benefits for Soufflets partners. In particular, employment and number of farmers reached are expected to grow. Most farms in the region are fairly large and provide substantial employment in rural areas. In addition, Soufflets activities also support many MSMEs (e.g. independent elevators, importers of inputs, transportation companies, security, catering, cleaning, maintenance, etc), which further reinforces the Companys direct impact on the local economy. - Upgrading of storage/logistics infrastructure. Soufflet has acquired and developed 210,000mt of grain storage capacity in the five countries. These facilities were usually poorly maintained, inefficient because of bottlenecks at various stages of loading and unloading, and were not operated at standards of safety applied to the Companys facilities in other countries. The Company has engaged into a multiyear improvement program that frees usable capacity, eliminates bottlenecks and upgrades the standards of operation to internationally accepted levels. This will in turn improve the quality of services to local farmers and local residents. This also provides a benchmark for the operation of competing elevators in the region. - Building more competitive markets. Storage and drying capacity in inland elevators remains limited relative to the current production levels, which provides better negotiating power to elevator operators. Soufflets expansion of its presence and higher standards of operation will provide valuable competition in this underserved market. - Agricultural productivity improvements. Soufflet has a staff of agronomists whose primary mission was to ensure adequate agronomic practices for the production of high quality malting barley. As the Company expands its procurement towards other grains and oilseeds, this expertise is being redeployed to ensure that a package of inputs, prefinancing, agronomic advice, storage and marketing services is available to local farmers to improve productivity and strengthen their partnership with Soufflet. - Strengthening rural economic development. Soufflets operations generate significant economic opportunities for rural communities in terms of employment as well as linkages to MSMEs.
SOUFFLET FINANCES
Marie-Ange Mathieu Deputy Financial Director Ets J. Soufflet Quai du General Sarrail 10400 Nogent sur Seine Cedex France F : +33 3 25 39 80 57 www.soufflet.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Eastern Europe Region
Russia: St-Petersburg and Griazy. Ukraine: Slavuta, Jashkov, Kiev, Carolina, Gorodok. Kazakhstan: Tekeli. Romania: Buzau. Serbia: Backa Palancka.
Location description
A description that qualifies the activity taking place at the location.
42.0000000000 43.5000000000
AA - Grain Processing (Milling, Starch, Flour, Malt)
Total: $80.30 million
80300000.00
80300000.00
SOUFFLET FINANCES
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30067/soufflet-eca