Stlc Tender

Identification Code OP190048Maturity 96 monthsOperation Status BSTDB Approved Amount 23.000.000 USD Approval Date- 29 Nov 2019BSTDB Signed Amount 23.000.000 USD Signed Date 27 Jan 2020Status ActiveDescription and Purpose of the OperationLong term unsecured corporate loan to State Transport Leasing Company of up to USD 23 million. The proceeds of the loan will be used for Capex related to construction of a modern coal transshipment terminal in newly built Lavna Commercial Port in Murmansk Region Russia.Countries of Operation Russian Fed. 10000 Financial Product LoansSector IndustrialsDomain PrivateBorrowerClient STLC RussiaCo-FinanciersParticipants Potentially Eurasian Development BankDevelopmental and Regional Cooperation ImpactThe Banks financing will support a new modern transshipment facility thus promoting export of goods and services development of infrastructure and new employment creation.Environmental Classification and Impact summaryCategory A operation. The project underwent the formal OVOS the Russian EIA process including public hearings that were completed in Feb 2018 and construction works started in Mar 2018. Considering the existing gaps between the OVOS approach namely with regard to assessment of social impacts and the ESIA requirements applied by BSTDB it was necessary to identify these differences assess whether they may pose material risks to the Operation natural environment and local communities health safety and security as well as the reputation of the Bank and identify measures of closing any such gaps. The gap-analysis of the existing OVOS and other key project documentation against the compliance requirements for Category A operations of BSTDB have been commissioned to a reputable Moscow-based ES consulting firm Ecoline. The Consultant advised BSTDB on the materiality of any such gaps drafted an Environmental and Social Action Plan ESAP that addressed these issues during construction and operation of the Terminal and a Stakeholder Engagement Plan SEP. The Bank publicly disclosed these documents both in Russian and English in Jan 2019 and until present did not receive any public complaints or comments related to the Project. The implementation of ESAP and SEP represented the main ES term and condition of BSTDBs financing. For the purpose of this Operation the Borrower will be required to provide the Bank with regular progress reports covering the implementation of ESAP and SEP.