Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Kazakhstan
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Disbursing
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-09-21
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Hamle Company Ltd
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Agriculture and Forestry
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 52.95 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 50,000,000.00
Converted using 2017-04-09 exchange rate.
Project Cost (USD): $ 52.95 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported EUR 50,000,000.00
Converted using 2017-04-09 exchange rate.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-08-10
Disclosure Date: 2016-12-07
Ulker Kazakhstan
EBRD-48107

Project Description
This project involves financing Hamle Company's procurement of new machinery, permanent working capital needs, and refinancing of existing hard currency loans. The Bank will support a company which has been in a transformation phase since 2013 and now requires investment into new machinery and related capital expenditures to further enhance its efficiency and productivity.
Investment Description
The EBRD loan consists of: Tranche 1 (US$ 26.47 million) - for financing of capex and working capital Tranche 2 (US$26.47 million) - for refinancing HAMLE COMPANY LTD is a limited liability partnership organised and existing under the laws of the Republic of Kazakhstan, involved in confectionary production and 100% owned by Yildiz Holding.
Contact Information
ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.