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Tumad Gold Mines Development
Sectors
Issues Raised
Project Information
Investment ID: 49041
Bank: European Bank for Reconstruction and Development
Environmental Category: A
Country: Turkey
Region: Europe and Central Asia
Approval Date: None
Investment Types: Loans
Total Project Cost: USD 333.2 million
Total Complaints: 1
Description
A USD 40 million senior project finance loan (the "Loan") to Tumad Madencilik Sanayi ve Ticaret A.S. ("Tumad" or the "Borrower"), a 100% subsidiary of Nurol Holding Inc ("Sponsor") to finance the development of the Lapseki and Ivrindi gold projects located in the Canakkale and Balikesir provinces of Turkey, respectively (the "Project)". The loan is fully guaranteed by the Sponsor.
Investments
| Investment Type | ID | Amount | Status | Bank | Client |
|---|---|---|---|---|---|
| Loans | 49041 | USD 40.0 million | Disbursed | EBRD | Nurol Holding Inc |
Related Complaints
| European Bank for Reconstruction and Development IPAM Complaints | IAM | Country | Date Filed | Status |
|---|---|---|---|---|
| Tumad Gold Mines Development | EBRD IPAM | Turkey | 23/08/2020 | Closed Without Outputs |
Implementers
| Name | Complaints | Dispute Resolutions | DR Successful | Compliance Reviews | Non-Compliance |
|---|---|---|---|---|---|
| Tumad Madencilik Sanayi ve Ticaret A.S. |