RLF - loan to Typhoon (Tayfun-Plus PE) Ukraine

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

EUR 10 million senior secured term loan to Tayfun-Plus PE, one of the two largest producers of oak lamella in Ukraine.

Project ID 54774

Status Disbursing

Location

Ukraine

Business Sector

Manufacturing and Services

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Iryna Volska
ivolska@tayfun-plus.com.ua
+38 096 8886507

Project ID 54774

Status Disbursing

Location

Ukraine

Business Sector

Manufacturing and Services

Notice Type

Private

Environmental Category

Approval Date

12 Dec 2023

Disclosure date

12 Dec 2023

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

RLF - Typhoon (Ukrainian) (PDF, 0.44MB)

Project description

EUR 10 million senior secured term loan to Tayfun-Plus PE, one of the two largest producers of oak lamella in Ukraine.

Project objectives

The Loan will be used to finance the working capital needs of the Company, essential capex aimed at cost-cutting measures and renewable energy generation facility.

Transition impact

ETI Score:70

ient: project supports a business directly affected by the conflict by providing working capital and supporting operations of the client;

- Inclusive: by preserving Company's workforce while improving working conditions.

Client information

TAYFUN-PLUS PE

Tayfun-Plus PE is one of the two largest producers of oak lamella in Ukraine.

EBRD Finance Summary

EUR 10,000,000.00

Total project cost

EUR 10,000,000.00

Additionality

The EBRD financing is provided under extraordinary circumstances stemming from the war on Ukraine, offering a unique set of terms, attributes and conditionalities.

Environmental & Social Summary

Categorised B (2019 ESP). Environmental and Social impacts associated with financing of essential CAPEX as well WC needs for parquet production plant, are expected to be site-specific and can be addressed via good management practices.

The Client is well known to the Bank through previous projects and has good track record of implementing previously agreed environmental and social action plan.

The ESDD for the new deal (first and second tranches only, exclusive of on-site energy generation) was undertaken in-house in line with EBRD Resilience & Livelihood Framework Package & ESD's Response for Ukraine and included the review of E&S issues associated with the Project and Client's capacity to manage them. This also included review of the Client's E&S reporting, which was found to be satisfactory, and company is on track in implementing previously agreed ESAP actions.

Bank has hired a consultant to evaluate the best available alternative energy generation options for the Company and once the option is selected the ESDD for respective tranche to be performed upon commitment and prior to the third tranche approval. Supplementary ESDD will include assessment of E&S risks typical for the selected option, such as supply chain, emissions etc. and will follow Bank's guidelines for the renewables. Any identified issues will be addressed through amendment of the Environmental and Social Action Plan.

Technical Cooperation and Grant Financing

The preparation of the transaction has been supported with EU NIP covering external experts to identify the most cost-effective options for renewable energy generation facility for the Company and EU DCFTA SME Direct Facility covering legal due diligence costs.

Transaction is supported by a first loss guarantee of 20% provided through the EU DCFTA SME Direct Facility.

EBRD loan is expected to be complemented by USD 1.1 million grant from HIPCA necessary for financing of the renewable energy facility.

Company Contact Information

Iryna Volska
ivolska@tayfun-plus.com.ua
+38 096 8886507

PSD last updated

12 Dec 2023

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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RLF - loan to Typhoon (Tayfun-Plus PE) Ukraine

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)