Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Moldova
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: Approved
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: 2016-12-06
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: GLASS CONTAINER COMPANY SA
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
Investment Amount (USD): $ 5.70 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 5,300,000.00
Converted using 2016-12-06 exchange rate.
Project Cost (USD): $ 14.74 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 13,500,000.00
Converted using 2016-12-06 exchange rate.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-05-01
Disclosure Date: 2016-10-05
DFF - Glass Container Company
EBRD-48690

Project Description
The EBRD is providing a long-term loan of up to EUR 5.6 million to Glass Container Company JSC (GCC), one of the largest glass bottle producers in Moldova. The loan will be used to finance part of the modernization of GCC's existing factory, comprising an investment into a new melting furnace and two new production lines. The plant is located within the industrial zone in the suburb of Chisinau.
Investment Description
A corporate loan facility of up to EUR 5.3 million and additional EUR 2.2 million to be co-financed by the International Cooperation and Development Fund (TaiwanICDF).
Contact Information
Boris Crivoi (Chief Financial Officer) gcc@gcc.md + 373 22 89 58 00 + 373 22 89 58 01 www.gcc.md 201 Uzinelor str., Chisinau city, Republic of Moldova, MD2064 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.