Louis Dreyfus Vostok

complete

The project consists of working capital financing for Louis Dreyfus Vostok LLC. The working capital facility will enable Louis Dreyfus Vostok to purchase grain at harvest for subsequent processing and trading. The project is expected to have a high transition impact. Louis Dreyfus’s expertise in the agribusiness sector as well as its strength as a sponsor should enhance this impact. The project’s transition impact stems from: The client will provide much-needed working capital financing to SMEs through supply contract agreements. The transition impact may be maximised further via the EBRD’s exploration of the possibility of setting up a warehouse receipts system in Russia. This project will be beneficial for the development of the legislative framework of the agricultural commodity markets, which is currently being put in place in Russia. Louis Dreyfus Vostok LLC is an indirect subsidiary of Louis Dreyfus & Cie of France. Louis Dreyfus Vostok LLC is a grain trading company set up in late 1998 with a view to develop Louis Dreyfus’s trading activities in Russia. EBRD financing consists of a US$ 22 million medium-term revolving working capital facility, with up to US$ 7 million syndicated to a participant bank. The financing is renewable by mutual agreement between Louis Dreyfus Vostok and the EBRD for another year for US$ 30 million, with up to US$ 10 million syndicated to a participant bank. The project has been screened C/0, meaning that neither an environmental audit nor an environmental analysis is required. The activities of Vostok are judged to have little, if any, environmental impact. Vostok undertakes due diligence to ensure that: None.