| Project Detail |
Location: Albania Project number: 53212 Business sector: Natural resources Notice type: Private Environmental category: B Approval date: 06 Apr 2022 Status: Concept Reviewed PSD disclosed: 07 Mar 2022 Project Description Senior secured loan of up to US$ 28m to Yildirim Albanian Mining Investments Sh.p.k. and Albchrome Sh.p.k. for the purpose of the acquisition of Albchrome Holding Sh.p.k. by Yildirim Holding A.S.. The loan will consist of two facilities: Facility A of up to US$ 8,400,000 will be provided to refinance the debt of Albchrome outstanding at the date of the acquisition, and Facility B of up to US$ 19,600,000 will be to partially refinance the Groups funding of advance for the acquisition. Project Objectives The new ownership will bring to Albchrome a possibility to distribute its products to a wider and more diversified customer base while Albchrome will benefit from Yildirims managerial and technical expertise in terms of operation optimisation and transfer of skills. The Banks participation will result in the development of a Low-Carbon and Climate- Resilient Roadmap for Albchrome. The Project is fully in line with the Banks Strategy for Albania (2020-2025) which identifies promoting energy efficiency and enhancing private sector competitiveness as strategic priorities in the country, and with the Strategy for Extractive Mining Industries (2018-2022), which supports improvement of operational efficiencies in mining projects and key metal extraction for construction and renewable energy industry. Additionally, the Project is fully in line with the Banks Green Economy Transition Approach 2021-2025 (BDS20-082/F). |
