Project description
and objectives:
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The proposed project will help Obolon finance its working capital needs,
especially the storage of the stocks of barley in grain warehouses for
subsequent processing into malt.
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Transition impact:
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The transition impact of the Project will be in the active promotion of
warehouses receipts (WHRs) as a viable instrument of financing stocks of
agricultural commodities. As WHRs provide superior security to lenders over
the existing documents (the warehouse ticket), if local banks will use it
extensively, it should lead to lower lending margins to agricultural producers
and processors.
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The client:
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Obolon is a leading Ukrainian independent brewing company. Its beer brand is
one of the most recognised consumer-goods brands in Ukraine. In 2003, it
brewed and sold more than 4 million hectolitres of beer with significant
export to Russia and other countries.
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EBRD finance:
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Up-to $12m, three year revolving credit facility.
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Total project cost:
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n/a
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Environmental impact:
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This project is Screened C/0.
The purchase and storage of agricultural commodities is not generally
associated with significant environmental, health or safety risks and Obolon
is well-known to the Bank through previous operations with the Company. An
environmental analysis and audit were conducted for the Bank's first project
and an environmental action plan was developed and agreed with the Company.
The EAP has since been completed by the Company which continues to provide the
Bank with annual environmental reports. These reports have always been
satisfactory to the Bank and demonstrate the Company's continued compliance
with both national and European Union standards for environment, health and
safety.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Elena Peresada
E-mail: helena@kiev.obolon.ua
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EBRD contact:
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Felix Potishman, Operation Leader: potishmf@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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