Financed ProjectsMETIVEST TRADE FINANCE LINE, UKRAINE

Identification Code:

OP/23/0004

Total Operation Cost:

10.000.000

Maturity:

12 months

Operation Status:

Description and Purpose of the Operation:

Countries of Operation:

Ukraine (100,00 %)

Financial Product:

Trade Finance

Sector:

Materials

Domain:

Private

Borrower/Client:

Metinvest Group remains the largest metallurgical group of Ukraine and one of the most important exporters of the country. Apart from assets located in the EU, the UK, and the USA, assets in Ukraine (except those located in Mariupol and Avdiivka) haven't sustained material damage and continue to operate, subject to employee safety, demand for their goods and logistical constraints in Ukraine.

Co-Financiers/Participants:

n/a

Guarantors/Sponsors:

Metinvest B.V., the Netherlands

Developmental and Regional Cooperation Impact:

The operation can have an important positive development impact in Ukraine and partially on regional development, particularly given the challenges Ukraine faces due to the military conflict. Enabling the company to export, will help the company to preserve its production, thereby its employment, contribute positively to country exports, and will have a certain positive impact on the logistical sector, given that railway routes will be used to deliver products to ports, among others, in Romania and Bulgaria for further exports.

Environmental Classification and Impact (summary):

The environmental and social (E&S) risks and impacts associated with transportation by rail and temporary storage of iron ore pellets are limited and not likely to be significant. Any existing issues such as emissions (dust) during transportation and handling, and any health and safety issues can be efficiently prevented and mitigated by applying existing good and best practices in handling mineral cargos in bulk.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org