📋 Tender Overview
Location:
Bosnia and Herzegovina
Project number:
55708
Business sector:
Agribusiness
Notice type:
Private
Environmental category:
B
Approval date:
04 Feb 2025
Status:
Approved
English-language PSD published:
14 Feb 2025
Project Description
The Project refers to the expansion of KFC restaurants in Bosnia and Herzegovina and the roll out of Taco Bell restaurants in the Western Balkans region, Croatia and Slovenia.
Project Objectives
The project aims to successfuly complete the roll out of restaurants in line with the development plan agreed with the Bank and YUM Brands (the Franchisor). Apart from creating significant number of new workplaces by financing the expansion of KFC and Taco Bell in the region, the Project aims to pioneer circular economy principles in the restaurant business and a fully digital approach to sales.
Transition Impact
ETI score: 66
Green - 100% of EBRD use of proceeds will support the green economy transition by financing a fully circular restaurant business, promoting sustainable resource use, reducing waste and recycling.
Inclusive - the Project will result in 200-250 of new workplaces, promote human capital development and create new economic opportunities for vulnerable segments of the population.
Client Information
APTHA GLOBAL DOO
Aptha Global d.o.o. (the "Comapny") is a limited liability company incorporated in Bosnia and Herzegovina, focused on the roll out of Taco Bell restaurants and Mango clothing stores. Tastra d.o.o., the co-borrower and a limited liability company incorporated in Bosnia and Herzegovina, is a franchising business of KFC restaurants.
EBRD Finance Summary
Senior unsecured loan to Aptha Global d.o.o. and Tastra d.o.o. (on a joint and several basis) in the amount of up to EUR 9.9 million, to finance the expansion and roll out of KFC and Taco Bell restaurants in the Western Balkans region, Croatia and Slovenia. Out of the total Loan amount, EUR 8.1 million will be provided by the Bank and the remaining EUR 1.8 million will be supplied from the Global Environment Facility ("GEF") under the Circular Economy Regional Initiative ("CERI").
Total Project Cost
Total project cost is estimated at EUR 13 million.
Additionality
Financing Structure (terms and conditions) - EBRD offers a longer tenor and unsecured structure necessary to close the funding gap
Innovative Financing Structure - EBRD will provide a concessional loan trache structured wilth incentive to achieve circular economy milestones
Non-financial Additionality - EBRD's expertise will contribute to the adoption of gender and equal opportunity standards
Environmental and Social Summary
Categorised B (ESP 2019). Environmental and Social risks associated with opening restaurants can be addressed by adequate mitigation measures. The Bank's Environmental and Social Due Diligence (ESDD) included a review of the completed ESDD Questionnaire, Company Documentation and subseq
