UCSF: LDC Ukraine

cancelled

The EBRD is considering provision of working capital financing to Louis Dreyfus Commodities Ukraine Ltd. The loan will finance Louis Dreyfus Ukraine’s merchandising of agricultural commodities. The proposed project is part of EBRD’s Ukrainian Corporate Support Program and Private Sector for Food Security Initiative. The main impact from the project relates to the provision of necessary working capital to one of the major grain sourcing companies in Ukraine during times of local liquidity constraints in the country. In addition, the project is intended to safeguard transition impact from the existing operation of the EBRD with Louis Dreyfus Commodities Group in Ukraine which promotes market-based systems and enhances policy dialogues in the grain sector. Louis Dreyfus Commodities Ukraine Ltd is a company existing and incorporated under the laws of Ukraine as an indirect subsidiary of Louis Dreyfus Commodities BV. The company operates in agricultural commodity sourcing, processing and merchandising, especially for grains. Up to USD 25.0 million in a 1-year working capital facility. Financing needs of the project fluctuate based on movement in commodity prices. The project has been screened B. Louis Dreyfus Commodities (LDC) is well known to the Bank through previous transactions and the Company's management of environmental and social issues has always proved satisfactory to the Bank. LDC is in the process of rolling-out of a comprehensive world-wide Safety, Health and Environment (SHE) Management System with core elements on Leadership, Plant Inspections, Accident Investigations, Emergency Planning, Rules and Regulations, Training, Use of Personal Protective Equipment (PPE), Industrial Hygiene and Occupational Health, and Engineering Controls. EBRD has discussed the development and application of this system with the Company a number of times and is monitoring the progress of the Company on implementing its commitments under this. Full application of the system will ensure that the activities of the Company meet the Bank’s Performance Requirements. The Company will continue to provide the Bank with annual reporting on environmental and social issues associated with its operations. None. Louis Dreyfus Commodities Suisse S.A. Hervé Sahores Head of Treasury & Financing - Europe & Black Sea 29, route de l’Aeroport, PO Box 236 CH-1215 Geneva 15 Tel: +41-22 799 26 66 E-mail: herve.sahores@ldcom.com