📋 Tender Overview
Location:
Regional
Project number:
55022
Business sector:
Manufacturing and Services
Notice type:
Private
Environmental category:
B
Approval date:
21 Jan 2025
Status:
Disbursing
English-language PSD published:
10 Mar 2025
Project Description
The investments will help the Group (i) expand its production and storage facilities in Uzbekistan, including green investments, (ii) implement capex projects in Ukraine, and improve energy efficiency (iii) introduce new software at the Group level to improve efficiency, as well as accounting and reporting standards.
Project Objectives
As part of the Project, the Group will invest in developing its foreign operations, improving energy efficiency and upgrading IT systems to unify its operations and accounting process across geographies. The project is 22% GET.
Transition Impact
ETI score: 70
Under the Resilience and Livelihood Framework (RLF), the transaction supports the domestic and international operations of a Ukrainian pharmaceutical producer and existing client of the EBRD affected by the war. The project strengthens the operations of the client in Ukraine and provides financing to the Group's affiliates outside Ukraine to support the Group's operations in Uzbekistan and Latvia. The financing and its purposes have an appropriate TI nexus to Ukraine consistent with the RLF.
- Under the Inclusive quality, in a context where the company is facing workforce-related challenges due to the ongoing war in Ukraine, the client will broaden access to market-relevant training opportunities for young people in Ukraine.
- Under the Green quality, the project will finance energy efficiency measures in Ukraine, green building certification in Latvia and the implementation of energy efficiency and energy-saving measures at the existing facilities in Uzbekistan, which is expected to strengthen the Group's operations, diversify its operational risks away from Ukraine, and ultimately contribute to ensuring stable supply of pharmaceutical goods within Ukraine.
Client Information
EMTEKO HOLDING SIA
SIA Emteko Holding is the holding company of Yuria Pharm Group (Ukrainian pharmaceuticals manufacturer).
EBRD Finance Summary
EUR 15,000,000.00
EBRD will co-finance Yuria Group investment program in Uzbekistan, Ukraine and Latvia of circa EUR 32 MM planned for 2025-2027.
Total Project Cost
EUR 32,350,000.00
The Loan in the amount up to EUR 15 MM will focus on green projects and other capex and will be split into EUR 13 MM committed and EUR 2 MM uncommitted tranches each having a tenor of 6 years. The transaction includes concessional finance administered by EBRD and will benefit from net 27% Ukraine Investment Framework Guarantee on part of the Ukrainian tranche.
Additionality
Additionality sources come from: (i) financing structure and (ii) standard-setting: helping projects and client achieve higher standards, including support to strengthen the capacity of
