Kazexportastyk

completed

The EBRD is considering providing a $35 million revolving loan (the “Loan”) to Kazexportastyk, an integrated agro-industrial holding in Kazakhstan, to finance the working capital it requires to maintain and expand its programme of modernisation across almost 1,000,000 hectares of farmland in northern Kazakhstan. The principal areas of transition impact stem from supporting a company whose operations cover almost 1,000,000 ha of agricultural land. Specifically, the Bank’s financing will: JSC Holding Kazexportastyk, (the “Company” or “KEA”) is a large agro-industrial holding and the 3rd largest grain trader in Kazakhstan. It is wholly owned by Mr. Ruslan Moldabekov and has operations across four main categories: (i) production, purchase and sale of wheat, rapeseed and other agricultural commodities (ii) purchase of machinery and equipment and subsequent leasing of this equipmentc mainly to client farms (iii) grain storage & shipping, and (iv) sale of equipment, spare parts and agrochemicals $35 million annually revolving working capital facility. $100 million. This project was categorised B under the EBRD’s Environmental and Social Policy 2008. Due diligence, which is ongoing, will focus on the Company’s capacity and systems to manage environment, health, safety and labour issues in its operations in Kazakhstan. Due diligence will confirm whether the Company can operate to EU environmental standards; and that the Company has systems in place to manage their environmental impacts, OHS risks and human resources. Under the proposed project the Company will be required to comply with the Bank’s Environmental and Social Policy 2008 Performance Requirements applicable to the project (specifically PRs 1-8 and 10). The Bank will monitor the Companies’ environmental and social performance for the lifetime of the loan through annual environmental and social reporting. The Companies will be required to immediately notify the Bank of any incidents or accidents likely to have an effect on the environment or worker and public safety. This section of the PSD will be updated upon completion of due diligence. None. Saule Utyubayeva E-mail: keaholding@keaholding.kz Fax: +7 7172 32 26 57 Tel:  +7 7172 21 49 01 (direct) / +7 7172 32 04 32 (reception) Website: www.kazexportastyk.kz.