📋 Tender Overview
Project ID: 56076
Status: In Exploratory, Pending Final Review
Location: Uzbekistan
Business Sector: Notice
Type: Private
Project Description
The provision of a US$ 10 million senior secured long-term loan to finance the expansion of Texnomart's retail chain in the Tashkent city and regions of Uzbekistan.
Project Objectives
The project aims to (i) strengthen the Texnomart's competitive position by expanding its retail footprint and enhancing its e-commerce; (ii) improve its corporate governance framework and practices; and (iii) foster its digital transformation.
Transition Impact
ETI score:67
rong>Well-governed: the Project will strengthen Company's corporate governance via CGAP developed for the Company
Competitive: the Project will support the Company's digital transformation to enhance its IT systems and e-commerce.
Client Information
TEXNOMART LLC
Texnomart LLC is one of the largest retailers of consumer electronics and home appliances in Uzbekistan.
EBRD Finance Summary
USD 10,000,000.00
Total Project Cost
USD 10,000,000.00
Additionality
The EBRD offers financing not available from commercial banks and helps to achieve higher standards including corporate governance improvements and digital enhancements.
Environmental and Social Summary
Categorised B (ESP 2024). Environmental and social risks associated with capex for store refurbishments and working capital for goods procurement are site-specific and can be readily addressed through appropriate mitigation measures. The Environmental and Social Due Diligence (ESDD) has been conducted internally and involved review of an E&S questionnaire.
ESDD has concluded that the Company only has limited elements of an Environmental and Social Management System (ESMS) and some gaps have been identified with the Environmental and Social Requirements. This has been addressed through an Environmental and Social Action Plan (ESAP). Contractual clauses oblige Contractors to meet Environmental, Health and Safety requirements for the limited capex plans. No specific E&S issues have been identified with the Project's core suppliers.
The ESAP commits the Company to formalise the structure of its Environmental and Social Management System. The HR Policy is aligned with Performance Requirement 2 including an Employee Grievance Mechanism and an equal opportunities Policy. A Waste Management Plan will be maintained focused on packaging and electronic waste management. A small fleet of trucks are in use and vehicle maintenance procedures are established. The ESAP commits the Company to carry out planned driver safety training. A Community Grievance Mechanism is in place.
