Noble - Turkey

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The EBRD is considering financing business development of Noble Group Limited (the “Sponsor”) in Turkey, which is driven by the Noble Group’s regional Pipeline Strategy, involving origination, storage, processing and trading of agricultural commodities. The Project will have the following transition impact effects: Demonstration of effect of improving quality standards of third-party processors in Turkey: NHT outsources commodity processing to local Turkish operators, which need to meet Noble’s operational and financial criteria. EBRD’s working capital finance will enable NHT to work with a larger number of commodity processors. NHT demonstrates best practises, which encourages local operators to improve operations and quality standards to meet Noble’s requirements. NHT works with partner plants to provide short education programs about reporting systems needed on a daily basis starting from crushed amount to produced products, stocks to shipment, which have a strong dissemination effect. NHT customers are mainly from the poultry sector, feed producers and oilseed crushers, as well as wholesalers of grains & oilseeds. Borrower: Noble Hammadde Ticaret A.S. (“Noble Turkey”) is engaged in the purchase of oilseeds and grains from abroad, which are sold on the Turkish market to local customers. Sponsor: Noble Group Limited, Bermuda, is a global leading supply manager with five operational divisions: energy; agriculture; metals, minerals, ores; logistics; and corporate. USD 30 million syndicated revolving working capital facility, of which EBRD will finance USD 10 million and participating banks will finance USD 20 million. USD 158 million. The project is screened C/1 (under the EBRD’s 2003 Environmental Policy). The Bank's loan would support Noble Turkey’s trading activities. The Borrower’s operations are expected to result in minimal, if any, adverse future environmental or social impacts. The Bank's environmental due diligence, which is ongoing, will include a corporate environmental and social review of the Borrower’s practices and its ability to operate to applicable EU and national standards for environment and health safety; and national and ILO labour standards. The Borrower will be required to comply with national and EU environmental, health, safety and labour standards and requirements, as well as provide the Bank with an annual environmental report. None. Noble Resources SA, Structured Finance Ave des Mousquines 4, CH 1005 Lausanne, Switzerland Tel : +41 21 331 0495 For business opportunities or procurement, contact the client company. EBRD project enquiries not related to procurement: Tel: +44 20 7338 7168; Fax: +44 20 7338 7380 Email: projectenquiries@ebrd.com The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Text of the PIP The EBRD has established the Project Complaint Mechanism (PCM) to provide an opportunity for an independent review of complaints from one or more individuals or from organisations concerning projects financed by the Bank which are alleged to have caused, or likely to cause, harm. The Rules of Procedure governing the PCM can be found at www.ebrd.com/downloads/integrity/pcmrules.pdf, the Russian version can be accessed at http://www.ebrd.com/downloads/integrity/pcmrulesr.pdf Any complaint under the PCM must be filed no later than 12 months after the last distribution of EBRD funds. You may contact the PCM officer (at pcm@ebrd.com) or the relevant EBRD Resident Office for assistance if you are uncertain as to the period within which a complaint must be filed. Project Summary Documents are created before consideration by the EBRD Board of Directors. Details of a project may change following disclosure of a Project Summary Document. Project Summary Documents cannot be considered to represent official EBRD policy. Last updated 23 April 2010