📋 Tender Overview
Ukraine
Project number:
55716
Business sector:
Manufacturing and Services
Notice type:
Private
Environmental category:
B
Approval date:
14 Jan 2025
Status:
Approved
English-language PSD published:
16 Jan 2025
Project Description
EUR 25 million equivalent multicurrency senior term loan to Comfy Trade LLC, one of Ukraine's largest retailers of household appliances and electronics in Ukraine.
Project Objectives
The Loan will finance the company's expansion strategy.
Transition Impact
ETI score: 67
- Inclusive: project would help to the Company to upgrade its human capital management systems, broadening employment and learning opportunities for war veterans, women and other hard to reach groups;
- Green: working capital financed by the Bank will be channelled towards purchase of energy efficient household appliances.
Client Information
COMFY TRADE LLC
Comfy Trade LLC is one of the largest Ukrainian non-food retail chains which focuses on sales of electronics and white goods.
EBRD Finance Summary
EUR 25,000,000.00
Total Project Cost
EUR 34,300,000.00
Additionality
The EBRD financing is provided under extraordinary circumstances stemming from the war on Ukraine, offering a unique set of terms, attributes and conditionalities.
Environmental and Social Summary
Categorised B (2019 ESP) and Low-Medium Risk. The investments into expansion and reconstruction of existing household appliances and electronics stores and working capital are associated with site-specific E&S impacts that can be managed through the implementation of good E&S management practices.
ESDD for the Project was performed in-house in line with EBRD ESD's Response to Impacts of War on Ukraine. It was based on the review of the Client's E&S questionnaire, available documentation and interviews with the Company's representatives responsible for E&S matters.
The E&S impacts associated with the Company's assets are limited as neither outlets, nor transport fleet are owned by the Company and are being leased and services outsourced. Key aspects are labour, health and safety of Company's staff and suppliers. It has been established that the Company has elements of E&S management system and ESG strategy, however there is no established E&S structure and plan supporting it.
An Environmental and Social Action Plan (ESAP) has been developed to address identified gaps, and includes, inter alia: implementation of the E&S management system consistent with the principles of ISO 14001 and 45001; introduction of E&S compliance checks and contractual conditions for suppliers of goods and services with Company, national and EU EHS requirements; enhancement of the HR policies to include the aspects of equal opportunities, non-discrimination, freedom of worker associations, GBVH; Implement war-hazard emergency related measures for personnel and customers. ESAP has been fully agreed with the Client.
The Bank will monitor t
