XM-DAC-903-SII-34190
International Finance Corporation
Palestine Growth Capital Fund
The Palestine Growth Capital Fund (the "Fund") is a Palestine dedicated SME private equity fund, seeking minority and controlling positions in high-growth SMEs.
1) Job creation: SMEs are the major sources of employment in West Bank and Gaza. Through the Fund's investment in SMEs, much needed growth capital will be injected into the system to foster employment creation. 2) Access to finance: The Fund will provide long term risk capital, which is very difficult for the local SMEs to obtain. 3) Introducing new sources of finance: Establishment of funds in the region introduces additional and complementary sources of financing to the financial markets which are largely dominated by banks. 4) Promoting sustainable growth: The Fund will play an active role in strengthening the SME's governance and transparency. Through hands-on involvement, operating efficiencies of the portfolio companies will be improved, thus promoting growth and sustainability.
The Palestine Growth Capital Fund C.V.
Abraaj Capital Dubai International Financial Centre (DIFC) Gate Village 8, 3rd Floor PO Box 504905 Dubai, United Arab Emirates Telephone: +971 4 506 4400 Fax: +971 4 506 4600
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
The Fund is a limited partnership under Dutch law. The Fund will make investments in Palestine.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
P-BA - Private Equity/Venture Cap Fund - Country
Total: $5.00 million
5000000.00
5000000.00
The Palestine Growth Capital Fund C.V.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/34190/palestine-growth-capital-fund
XM-DAC-903-SII-35149
International Finance Corporation
Faten II Project
Faten started as a program under Save the Children in 1995 and was spun-off in 1999 into a not-for-profit Company with a mission to serve the financial needs of low and middle income Palestinian entrepreneurs and individuals. Currently, Faten is the largest Micro Finance Institution (MFI) in West Bank & Gaza (WB&G) and serves its clients through an established network of 35 branches and staff of 219 people. IFC is considering a potential investment in the form of a senior loan of up to US$ 5 million to support Fatens micro and small and medium size enterprises (MSME) portfolio growth and the expansion of its reach to low and middle income Palestinian. The proposed project builds on IFCs previous engagement with Faten, where IFC extended a US$ 3 million senior loan (project #30178), which has since been fully repaid.
(i)Access to finance: Availability of financing in the aftermath of the war in Gaza and the consequent economic slowdown in the West Bank is critical for the revival of the Palestinian economy, especially for the MSME sector. The proposed Project would support Faten, the largest and well managed MFI, to leverage its well established network to expand outreach and to serve a larger number of micro and small entrepreneurs in the WB&G where microfinance penetration is low. (ii)Job creation: MSMEs are key contributors to job creation in WB&G and are estimated to account for 80% of total employment. Developing the MSME sector, with reliable access to finance, can play a significant role in private sector led economic growth, generating employment and providing opportunities to the MSME sector. (iii)Funding: IFC will provide long-term funding to enable the Company further grow its client base. (iv)Demonstration effect: Through this project, IFC is expected to act as a catalyst by encouraging local banks to further expand their funding to the microfinance sector with longer term tenors and help to bridge the financing gap facing this sector in conflict countries like WB&G.
PALESTINE FOR CREDIT AND DEVELOPMENT
Mr. Anwar Jayyusi Managing Director Palestine for Credit & Development - Faten P.O.Box 2446, Ramallah West Bank and Gaza Tel: +970-2-2961470/1 Fax: +970-2-2961472 mailto:ajoyyosi@faten.org http://www.faten.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Faten is headquartered in Ramallah and has 35 branches covering different areas of the WB&G. Investments can be made throughout the Country.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
O-HA - Microfinance and Small Business - Non Commercial Banking
Total: $5.00 million
5000000.00
5000000.00
PALESTINE FOR CREDIT AND DEVELOPMENT
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/35149/faten-ii-project
XM-DAC-903-SII-37270
International Finance Corporation
BoP Sub-Debt
The proposed project entails a 10-year subordinated debt (Sub-debt) of up to US$75 million to Bank of Palestine (BoP or the Bank), the largest national bank in West Bank & Gaza (WB&G). The Sub-debt will qualify as Basel II, Tier II capital. The Sub-debt will strengthen BoPs capital base and support its vision of maintaining its position as the market leader in WB&G and will provide a base to expand BoPs outreach in the local market as well as expanding its regional footprint. This project comes as a part of IFCs support to BoP which included helping the Bank to strengthen its risk management framework, corporate governance and developing new products to expand access to finance and banking services for SMEs and women.
The development impact is expected to be high. First, IFC''s engagement will assist in the development of the local banking sector and introduce new investment instruments since the proposed subordinated debt will be the first of its kind in West Bank & Gaza. Second, IFC''s investment in BoP will have an important demonstration effect as it is expected to further provide market comfort and accordingly attract investors to invest in the Palestinian banking market and thus assist in its growth and expansion. Third, by supporting the capitalization of the largest national bank, BoP, IFC will be assisting the bank to fulfill its ambitious strategy that focuses on: (a) further penetration of the local market; (b) financial inclusion and improve access to finance to the different segments including SMEs and underserved segments, such as women and youth, which will assist in maintaining existing jobs and creating new ones to address the significantly high unemployment rate; (c) support BoP''s growth strategy beyond WB&G including reaching out to Palestinian diaspora in the region and globally.
BANK OF PALESTINE PLC
Hashim Shawa Bank of Palestine General Management Head Office P.O. Box 471, Ramallah, Palestine Telephone: +970 2 2970990 Fax: +970 2 2970980
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
BoP has been established in Gaza in 1960, and since then, grow its branches network across WB&G. BoPs head office in currently in Ramallah with 56 branches across WB&G.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
O-AA - Commercial Banking - General
Total: $75.00 million
75000000.00
75000000.00
BANK OF PALESTINE PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/37270/bop-subdebt
XM-DAC-903-SII-39432
International Finance Corporation
ISC-Ibtikar Fund
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } Ibtikar Fund LP (Ibtikar or the Fund) is an early stage venture capital fund raising $10-12 million to invest in 45+ seed stage companies in Palestine. This investment will fall under the IFC Startup Catalyst initiative, which supports entrepreneurship and innovation at the earliest stages.
Development impact: (i) Address the funding gap for early stage
investments in the Palestine. (ii) Support innovation, technology, and
entrepreneurship in the region via investments in internet-enabled companies.
(iii) Create high-value employment opportunities.
IBTIKAR FUND LP
Ibtikar Fund, LP Habib Hazzan Managing General Partner +970-56-8880111 habib@ibtikarfund.com PRICO House Building, Office 302 Maysoun, Ramallah, Palestine http://ibtikarfund.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } Ibtikar will be a Limited partnership registered in the British Virgin Islands and operating in Palestine. The Fund will invest in early stage companies owned by Palestinians with operations in Palestine.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
P-GJ - Other Non-Private Equity Fund
Total: $30.00 million
30000000.00
30000000.00
IBTIKAR FUND LP
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/39432/iscibtikar-fund
XM-DAC-903-SII-38674
International Finance Corporation
PRICO Solar Gaza
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } The proposed investment is for the financing of a 7 megawatt peak rooftop photovoltaic (PV) solar energy project to provide the Gaza Industrial Estate (GIE) with a source of domestic power generation (the Project). The project will be developed by two special vehicles, one based in the West Bank and one in Gaza, to attend to the various aspects of the financing and operation of the project. The two special vehicles are wholly owned subsidiaries of the Palestine Real Estate Investment Company (PRICO or the Client). PRICO is a company organized under the laws in force in the West Bank Palestinian Territories. The project is expected to provide up to 80 percent of expected electricity needs of GIE at a price substantially lower than the alternatives. GIE is connected to the grid and will enter under a net metering agreement with local distribution company Gaza Electricity Distribution Company (GEDCO). This project is proposed as an integrated World Bank-IFC investment with the World Bank providing investment co-financing for an expected 10 percent of the project costs through its Finance for Jobs (F4J) Series of Projects (SOP). The project is expected to help alleviate the ongoing electricity shortage in Gaza, which has electricity availability averaging only 8 hours a day.
(i) Provide a domestic source of power helping the development of the industrial zone, addressing substantial demand-supply gap for electricity.
(ii) Enhance capacity building of local institutions to lay the foundation for private sector participation and long-term growth.
(iii) Improve energy security via domestic generation of power to support economic growth and job creation.
(iv) Provide clean and cost competitive electricity and reduce diesel consumption by the factories in the GIE and GHG emissions in the process.
PRICO FOR OPERATION AND MAINTENANCE LTD
Palestine Real Estate Investment Company Mohammad Alterawi Head of Infrastructure and Renewable Energy Department 00970 2 296 0506 m.terawi@prico.ps Almasyoun, PADICO House, 4th Floor, Ramallah www.prico.ps
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } Please contact: Name: Mohammad Alterawi Title: Head of Infrastructure and Renewable Energy Department Company: Palestine Real Estate Investment Co. Address: Almasyoun, PADICO House, 4th Floor, Ramallah Mail to: m.terawi@prico.ps Website: www.prico.ps
West Bank and Gaza
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } The project will be located in the GIE, which is approximately 3 kilometers east of Gaza City. The GIE was established with the assistance of both the World Bank and USAID. Agricultural lands are located to the north, south and west of the GIE with the border of Israel to its east. There are also scattered residences to the west of the GIE with more densely distributed structures/residences to the west of Road 4 (approximately 300-m from the GIE). Imported construction materials will pass through the Karm Abu Salem crossing ( located 35-kilometers south of the project site), and the route does not cross through residential areas. The concession agreement between the Palestinian National Authority and Palestine Industrial Estate Company (PIEDCO) was signed in 1996 for a 49-year period with eligibility for an extension of another 49 years. Totaling 50 hectares, the GIE consists of a mix of light industry including bottling factories, food production, woodshops and plastics for domestic products (e.g. plumping, piping).
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
V-BF - Solar - Renewable Energy Generation
Total: $4.40 million
400000.00
4000000.00
400000.00
PRICO FOR OPERATION AND MAINTENANCE LTD
4000000.00
PRICO FOR OPERATION AND MAINTENANCE LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/38674/prico-solar-gaza
XM-DAC-903-SII-40641
International Finance Corporation
Massader School Rooftop PV Program
The proposed investment is for the financing of rooftop photovoltaic (PV) solar project of a capacity of up to 30 megawatt peak (MWp) to be installed on up to 500 public schools located across the West Bank (the Project). The Project will provide a source of domestic power generation in West Bank which is relying almost entirely on imported energy. In addition, the schools (through the Ministry of Education), will receive 18 percent of the electricity generated in lieu of their rooftops being used. The project, which will be implemented through SPVs, is being developed by Massader Company for the Development of Natural Resources and Infrastructure projects (Massader), a company organized under the laws in force in the West Bank. The electricity output from the Project will be sold under a 25-year PPA with multiple distribution companies (DisCos), which include the Jerusalem District Electricity Distribution Company, Northern Electricity Distribution Company, Hebron Electric Power Company, the Tubas Electricity Distribution Company and the Southern Electricity Company. This project is proposed as an integrated World Bank IFC investment, with the World Bank assessing the investment for financing consideration for up to 6% of project cost.
The project is expected to: (i) improve the quality and affordability of energy supply in the WB&G; (ii) reduce the average cost of energy to residential and commercial customers; (iii) benefit the government from fiscal savings as a result of avoided energy expenditures on the public schools where the rooftop solar panels will be installed; (iv) increase cleaner energy supply that is expected to result in a reduction of an estimated 30,000 tons of CO2 emissions annually; (v) contribute to market competitiveness by supporting the first large scale solar PV plant selling electricity to Discos with long term PPAs in WB&G and (vi) contribute towards the WB&G's power sector resilience through increasing use of a local renewable resources and hence reducing dependency on imports.
MASSADER FOR DEVELOPING NATURAL RESOURCES AND INFRASTRUCTURE PROJECTS
Massader for Developing Natural Resources and Infrastructure Projects Azem Bishara Chief Executive Officer +970 52 296 9600 abishara@massader.ps P.O.Box 413; Al-Ersal District; Amaar Tower, Floor 3; Ramallah, Palestine www.massader.ps
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Name : Azem Bishara T itle: Chief Executive Of ficer Company: Massader for Developing Natural Resources and Infrastructure Projects Address: P. O.Box 413 , Al- Ersal District , A maar Tower, Floor 3 , Ramallah, Palestine Mail to: abishara@massader.ps Website : www.massader.ps
West Bank and Gaza
The project covers up to 500 public schools in the following areas of the West Bank: Jenin, Qabatia, Tubas, Nablus, Ramallah and Al-Bireh, Al Ram, Salfeet, Bethlehem and Hebron.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
V-BF - Solar - Renewable Energy Generation
Total: $10.47 million
800000.00
9670000.00
800000.00
MASSADER FOR DEVELOPING NATURAL RESOURCES AND INFRASTRUCTURE PROJECTS
9670000.00
MASSADER FOR DEVELOPING NATURAL RESOURCES AND INFRASTRUCTURE PROJECTS
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/40641/massader-school-rooftop-pv-program
XM-DAC-903-SII-41853
International Finance Corporation
Al-Jebrini Project
Established in 2003 and headquartered in the City of Hebron, West Bank, Al-Jebrini Company for Dairy and Food Industry and its subsidiaries and affiliated companies (together Al-Jebrini or the Company) is one of the largest dairy companies in West Bank and Gaza. The Company produces and distributes a wide range of staple and value add products including yogurt, milk, juice, salads and dips such as hummus, cheese and pudding. Through the proposed investment, IFC will support the Companys expansion plan consisting of: (a) expanding its salad production capacity by establishing a new factory in Al-Dahrya; (b) constructing warehouses and distribution centers in Ramallah, Nablus and Gaza; and (c) increasing the capacity of the Companys biogas facility in Al-Dahrya (collectively, the Project).
The Project expected project-level outcome is an increase in the access and quality of hummus, salads and perishable, dairy-based, staple food products in Gaza. Beyond the project, IFC anticipates its investment will increase competitiveness in the processed foods sector of West Bank & Gaza, through demonstration and replication effects.
AL-JEBRINI DAIRY AND FOOD INDUSTRIES COMPANY
Al-Jebrini Company for Dairy and Food Industry Husam Jebrini Executive and Financial Manager +970-2-2259612 husam@al-jebrini.com P.O. Box 640, 90100 Hebron, West Bank https://al-jebrini.com/en
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Al- Jebrini will make relevant documentation available in Arabic and/or English on its website ( https://al-jebrini.com/en ) and its office in West Bank, Palestine.
West Bank and Gaza
The Projects salad production facility will be located in Al-Dahrya, a suburban area which is approximately 25km to the south of the City of Hebron in West Bank. The salad production facility will be established on a greenfield site with a total land area of approximately 15,000 sqm. The site was purchased by the Company in 2018. The Projects distribution centers will be located in Ramallah, Nablus and Gaza.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
F-AF - Dairy Products
Total: $9.46 million
9460000.00
9460000.00
AL-JEBRINI DAIRY AND FOOD INDUSTRIES COMPANY
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/41853/aljebrini-project
XM-DAC-903-SII-44824
International Finance Corporation
ISC-Ibtikar II
Ibtikar Fund II, L.P. (Ibtikar Fund II or the Fund) is an early stage venture capital fund raising up to US$30 million to invest in pre-Seed and Seed stage startups primarily in Palestine or with a Palestinian nexus. This investment will fall under the IFC Startup Catalyst initiative, which supports entrepreneurship and innovation at the earliest stages.
Development impact: (i) Address the funding gap for early stage investments in Palestine and the Middle East and North Africa (MENA). (ii) Support innovation, technology, and entrepreneurship in the region via investments in internet-enabled companies. (iii) Create high-value employment opportunities.
ISC-IBTIKAR FUND II
Ibtikar Fund Habib Hazzan Partner habib@ibtikarfund.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Ibtikar Fund II will be a limited partnership registered in the Netherlands and operating in Palestine. The Fund will invest in early stage companies primarily in Palestine or with direct connection to Palestine.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
P-BB - Venture Capital Fund
Total: $30.00 million
30000000.00
30000000.00
ISC-IBTIKAR FUND II
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44824/iscibtikar-ii
XM-DAC-903-SII-45752
International Finance Corporation
FCSRE Vitas Palestine MSME Loan
The proposed project (Project) consists of an investment of up to US$ 5 million to Vitas Palestine (Company) in the form of a senior term loan with a maturity of up to five years and a grace period of one year. The investment proceeds will be used by the Company to lend to Small and Medium Enterprises (SMEs) including Women-owned SMEs (WSMEs) in West Bank and Gaza. An interest rate buy-down from the Global Small and Medium Enterprises Financing Initiative (GSMEF) will complement the investment package to help address a key market barrier of access to finance for SMEs, including Women-owned enterprises in West Bank and Gaza.
The Project is expected to support Vitas Palestine in achieving the following objectives: (i) increasing access to financing for MSMEs in West Bank and Gaza; and (ii) promoting greater inclusiveness in the MSME finance market through expanding access to finance for women-owned MSMEs.
VITAS PALESTINE
Vitas Palestine Mr. Alaa Sisalem CEO +972 (2)2410510 asisalem@vitas.ps Abu Iyyad Street , Al-Birah, Ramallah, West Bank www.vitas.ps
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Vitas Palestine is headquartered in Ramallah, West Bank and operates through 10 branches across West Bank & Gaza.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
O-HA - Microfinance and Small Business - Non Commercial Banking
Total: $5.00 million
5000000.00
5000000.00
VITAS PALESTINE
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45752/fcsre-vitas-palestine-msme-loan
XM-DAC-903-SPI-7670
International Finance Corporation
Commercial Bank of Palestine Micro-Lending (Multicompany with 7669 and 7668)
Summary Of Project Information (SPI) Project Name Microlending Region Middle East and North Africa Sector Project No007670 Projected Board DateJune 27, 1996 Company NameArab Bank, Cairo Amman Bank, National Bank of Jordan, Commercial Bank of Palestine Technical Partner and/or Major Shareholders N/A Project Cost Including proposed IFC investment The aggregate size of each of the Jordian component and WBG component is estimated to be US$20 million constituted of IFC funds (40%), donor funds (20%) and commercial bank funds (40%). These funds will be subdivided among the participating banks and segregated into special purpose accounts at each participating bank for onlending to microenterprises. Location of project and Description of site West Bank/Gaza and Jordan Description of Company and Purpose of Project The purpose of the project is to provide a catalyst for the commercial banks to develop their microlending businesses and thus ensure a sustainable source of microfinance for the microbusinesses. Environmental Category and Issues This is a category C project according to IFCs environmental review procedure. Therefore, no additional environmental analysis is required. Date SPI sent to PIC June 4, 1996 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 676-0365
Commercial Bank of Palestine-Microentreprise Credit Facility
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
AC - Commercial Banking - Microfinance and Small Business
Total: $1.50 million
1500000.00
1500000.00
Commercial Bank of Palestine-Microentreprise Credit Facility
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/7670/commercial-bank-of-palestine-microlending-multicompany-with-7669-and-7668
XM-DAC-903-SPI-7706
International Finance Corporation
Gaza Industrial Estate
Summary Of Project Information (SPI) Project Name West Bank and Gaza - The Gaza Industrial Estate (GIE) Region Central Asia, Middle East and North Africa Sector Project No007706 Projected Board DateMay 30, 1997 Company NamePalestine Industrial Estate Development and Management Company (under establishment) Technical Partner and/or Major Shareholders The Gaza Industrial Estate is being developed by the Palestine Development and Investment Ltd.(PADICO), which will own 49.0% of the shares of the project company. The off-site infrastructure will be financed by the donor community led by the World Bank and USAID. PADICO has also requested IFCs assistance in identifying a technical partner with experience in operating and managing a similar industrial estate. Project Cost Including proposed IFC investment The total project cost is estimated at about US$60.7 million, consisting of US$20.0 million for off-site infrastructure and US$40.7 million for on-site infrastructure and the construction of factory buildings(the Project). IFCs investment will be a loan of about US$ 8.0 million and up to US$ 1.0 million in equity. Location of project and Description of site The GIE is located on the border between Gaza and Israel, 3 km South of the center of Gaza City and 1 km from the main highway to Egypt. The site is well connected with the main commercial transfer points - 5 km from the proposed Gaza Port; 25 km from Gaza Airport (expected to be operational in mid-1997); 25 km from the port of Ashkalon; and 65 km from Lod International Airport in Israel. The total size of the GIE is about 48 hectares. The land was provided by the Palestinian National Authority (PNA) under a 49 year lease agreement with PADICO. Description of Company and Purpose of Project The GIE will be developed by PADICO. PADICO was incorporated in 1993 with the main objective to develop and encourage investment in various sectors throughout the West Bank and Gaza. As of year end, 1995, PADICOs total shareholders equity was about US$58.3 million. To date, PADICO has established five subsidiaries in tourism, real estate and industrial development, telecommunications, and securities markets. The total estimated cost of projects in PADICOs current investment program is over US$500 million. PADICO has begun the process of establishing a new subsidiary company (Palestine Industrial Estate Development and Management Company) to operate and manage the project which consists of the construction, operation, and management of an industrial estate catering to small- medium-scale enterprises. The project will address the critical shortage of infrastructure (water, sewage, power, etc.) for industries in Gaza and will draw on Gazas relatively low wage and productive labor force, its preferential trade arrangements with the US and EU, and the low lease for the land. At full development, the project is expected to employ about 20,000 Palestinian workers. IFCs developmental role consists of: a) supporting a project that alleviates serious unemployment in Gaza and builds up Gazas trade and business potential; b) giving confidence to the private sector businesses, especially those from overseas, to locate at the site; c) helping to complete the projects financial plan by providing funding on terms and maturities not otherwise available; d) playing a catalytic role in attracting financing from foreign sources; e) assisting PADICO to find a partner with experience in operating and managing an industrial estate; and f) creating a model for the development of future industrial estates in the West Bank and Gaza. IFCs financing of the on-site development will be complemented by the World Bank and USAID financing for the off-site infrastructure development. Environmental Category and Issues This is a category B project according to IFCs environmental review procedure. Environmental issues associated with this project include liquid effluence, ground water resources, air emissions, and solid waste. Health and safety issues include fire safety and emergency response. The project will be designed to meet all local regulations as well as World Bank guidelines, and is likely to result in significant environmental benefits for Gaza as a whole by providing a well-serviced industrial estate under centralized management. An EIA for the project was completed under the supervision of USAID. Various infrastructure upgrades (relating to water supply and waste disposal), to which the project is linked, are being completed with a combination of EIB, EU, USAID, and World Bank support. The is Available from the Public Information Center. Date SPI sent to PIC April 29, 1997 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Palestine Industrial Estates Development and Management Company
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
AA - Construction and Real Estate
Total: $9.00 million
8000000.00
1000000.00
8000000.00
Palestine Industrial Estates Development and Management Company
1000000.00
Palestine Industrial Estates Development and Management Company
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/7706/gaza-industrial-estate
XM-DAC-903-SPI-8239
International Finance Corporation
SEF Nabahin Industry and Trading Company
Summary Of Project Information (SPI) Project Name West Bank & Gaza - Nabahin Region Central Asia, Middle East & North Afrida Sector Project No008239 Projected Board DateJune 10, 1997 Company NameNabahin Industry & Trading Company Technical Partner and/or Major Shareholders The Nagahin Family Project Cost Including proposed IFC investment A loan of US$0.65 million. The total project cost is US$1.7 million. Location of project and Description of site The re-treading tires factory is in the Gaza Strip Description of Company and Purpose of Project The aim of the investment is to help expand the capacity of the factory. The expansion would allow it to meet increasing demand, lower production costs, broaden its line of products and develop its distribution network. Environmental Category and Issues This proposed project is classified as a category B project according to IFCs environmental review procedure. Environmental issues which were examined included air emissions and liquid effluents, solid waste management, and general worker health and safety. The facility produces only minor air and water emissions. Solid wastes are primarily rubber shavings from the processed tires, which are recycled as an additive in asphalt for road paving or as low grade rubber, or are landfilled. The sponsor has installed appropriate fire detection and protection equpment and will operate the facility in conformance with World Bank health and safety guidelines The is May 15, 1997 from the Public Information Center. Date SPI sent to PIC May 9, 1997 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Nabahin Industry and Trading Company
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
AB - Automotive Tires
Total: $0.65 million
650000.00
650000.00
Nabahin Industry and Trading Company
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8239/sef-nabahin-industry-and-trading-company
XM-DAC-903-SPI-8240
International Finance Corporation
SEF Arab Concrete Products Company Limited
Summary Of Project Information (SPI) Project Name West Bank & Gaza: Arab Concrete Products Company Region Middle East Sector Project No008240 Projected Board DateJune 10, 1997 Company NameArab Concrete Products Company Technical Partner and/or Major Shareholders Arab Concrete is a public shareholding company with 350,000 outstanding shares owned by 80 shareholders, most of whom are local investors. Project Cost Including proposed IFC investment Total project cost is estimated at US$1.57 million. IFCs participation is US$0.7 million A loan. Location of project and Description of site The project is located in the city of Nablus, West Bank. Description of Company and Purpose of Project Arab Concrete Products is the largest producer of ready-mix concrete in Nablus, where it operates two plants and ten delivery trucks, and has a combined production capacity of about 110,000 m3/year. The aim of the investment is to help finance the purchase of additional delivery equipment - mainly trucks - to enable the company to fully utilize its production capacity. Environmental Category and Issues This proposed project is classified as a category B project according to IFCs environmental review procedure. Environmental issues which were examined included air emissions, liquid effluent treatment, potential site contamination from past uses, work place air quality, noise and safety. The sponsor will ensure that the project is implemented in compliance with all applicable local and World Bank environmental, health and safety guidelines The is May 15, 1997 from the Public Information Center. Date SPI sent to PIC May 8, 1997 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
ARAB CONCRETE PRODUCTS COMPANY CO. LTD
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
AB - Concrete Pipes and Blocks
Total: $0.80 million
800000.00
800000.00
ARAB CONCRETE PRODUCTS COMPANY CO. LTD
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8240/sef-arab-concrete-products-company-limited
XM-DAC-903-SPI-8335
International Finance Corporation
SEF Pharmacare Ltd.
Summary Of Project Information (SPI) Project Name WEST BANK & GAZA: Pharmacare Region Central Asia, Middle East and North Africa Sector Project No008335 Projected Board DateJune 9, 1997 Company NamePharmacare Ltd. Technical Partner and/or Major Shareholders Pharmacare Ltd. is a public shareholding company with 500,000 issued stocks and 650 shareholders. The majority shareholders are the Khoury family (28%), who are the founders of the company. Project Cost Including proposed IFC investment A Loan of US$0.5 million. The total project cost is US$3.35 million. Location of project and Description of site The pharmaceuticals factory is in the West Bank city of Ramallah. Description of Company and Purpose of Project The aim of the investment is to help upgrade and expand the production capacity of the factory. The expansion would allow the Company to operate with better efficiency, improved quality according to Good Manufacturing Practice (GMP) standards, and ultimately to increase its sales in the local and export markets. Environmental Category and Issues This is an environmental review category B project. Environmental, occupational health and safety issues associated with this project include: air emissions and liquid effluent treatment; adequacy and quality of water supply; solid and hazardous waste handling and disposal; potential site contamination from present or past uses; fire prevention and emergency response; and workplace air quality, noise and safety. The sponsor will operate the facility in compliance with all World Bank environmental health and safety guidelines. The is from the Public Information Center. Date SPI sent to PIC May 9, 1997 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Dar Al-Shifa for the Manufacturing of Pharmaceuticals Plc.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
FA - Pharmaceuticals and Medicine
Total: $0.45 million
450000.00
450000.00
Dar Al-Shifa for the Manufacturing of Pharmaceuticals Plc.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8335/sef-pharmacare-ltd
XM-DAC-903-SPI-8618
International Finance Corporation
SEF Cold Storage Project
SUMMARY OF PROJECT INFORMATION Project Name West Bank & Gaza - Cold Storage Region Middle East Sector Food Industry Project No 008618 Projected Board Date December 15, 1997 Company Name Arab Palestinian Storage Company Technical Partner and/or Major Shareholders The Arab Palestinian Investment Company Ltd. (APIC) is a public shareholding company with an authorized capital of US$100 million and a paid-up capital of US$25 million. APIC is owned by a group of prominent Palestinian businessmen with extensive experience in Jordan and the Arab Gulf. Project Cost Including Proposed IFC Investment A loan of US$0.8 million and US$0.2 million in equity. The total project cost is US$4.85 million. Location of Project and Description of Site The project is in the city of Beit Hanoun in the Gaza Strip. Description of Company and Purpose of Project In the West Bank and Gaza, vegetables and fruits are produced in relatively large quantities which exceed local consumption. At the same time, local production of meat, poultry and fish are insufficient requiring imports from Israel. Therefore, proper storage methods are much needed to preserve perishable food products. The project is to establish a cold storage facility with a total area of 3,800 m2 and a capacity to store about 4,900 tons of food products. The method of storage includes both freezing and chilling at adequate temperature levels to preserve the products for long periods of time. The project would also involve trading in fruits and vegetables, mainly for resale in the off-season. Environmental Category and Issues This is an environmental review category B project. Environmental, occupational health, and safety issues include: site selection, acquisition, and construction; solid and liquid waste handling; ambient noise; refrigerants used in freezing and chilling systems; hazardous materials handling and storage; fire prevention and emergency response; and workplace health and safety, including training. The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with Palestinian laws and regulations and applicable World Bank requirements. The information about how these potential impacts are addressed by the sponsor is summarized in the paragraphs that follow. The site, which historically had been used as farm land, was acquired by the sponsor from the original land owner in a market-valued cash transaction earlier this year. There were no residences on the site; nor are there any within the immediate vicinity. The site is surrounded by farm land and other newly created parcels of land scheduled to be developed for other industrial or commercial use. The sponsor has inspected the site and confirms that there is no soil or groundwater contamination from past site uses. The ERS is available from the InfoShop. Date SPI sent to PIC November 13, 1997 For Additional Information contact: Corporate Relations Unit - Telephone: (202) 473-7711 Facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Arab Palestinian Storage and Cooling Co. Ltd
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
CA - Storage (Including Agricultural Products)
Total: $0.20 million
200000.00
200000.00
Arab Palestinian Storage and Cooling Co. Ltd
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8618/sef-cold-storage-project
XM-DAC-903-SPI-8649
International Finance Corporation
Palestine Tourism Investment Co. Ltd.
Summary Of Project Information (SPI) Project Name West Bank & Gaza - Bethlehem Jacir Palace Hotel Region Central Asia, Middle East and North Africa Sector Project No008649 Projected Board DateJune 30, 1998 Company NamePalestine Tourism Investment Co. Ltd. (PTIC) Technical Partner and/or Major Shareholders The proposed hotel will be owned by Palestine Tourism Investment Co. Ltd. (PTIC), a Palestinian holding company. To date, 8.9 million shares valued at JD8.9 million (US$12.5 million equivalent)have been issued, of which 55% have been subscribed by Palestine Development and Investment Ltd. (PADICO), 11% by Zara Investment Co. Ltd., and remaining 34% by smaller investors. Project Cost Including proposed IFC investment The total project cost is estimated at about US$42.0 million. IFC''s investment will be US$8.0 million in the form of an A loan. Location of project and Description of site The project will be built on a 3 hectare site located 2 km from the center of Bethlehem and 8 km from the Old City of Jerusalem, on the main Jerusalem to Bethlehem road. The Jacir Palace, facing the main road, is a magnificent turn of the century building that will be renovated and incorporated into the design of the hotel. The site includes a large olive orchyard which will help provide an in-city resort atmosphere. Description of Company and Purpose of Project The project is to build and operate the first international-standard 250-key hotel in the West Bank city of Bethlehem, which is a world class tourism destination. The project, to be managed by Inter-Continental Hotels (or an international hotel operator of similar quality), would set the standard for quality and comfort, meeting both tourism and business demands. Despite the political difficulties in the region, since 1991 tourism in Israel and the West Bank and Gaza has been growing at an annual rate of about 2.3% p.a. With further progress in the peace process, this growth will continue. Moreover, the Year 2000 activities are expected to bring a large influx of tourists, in particular to Bethlehem, where there is at present no international standard hotel. The Bethlehem 2000 program, supported with the World Bank financing, will improve Bethlehems infrastructure in time for the Year 2000 activities; and the proposed hotel would be the largest private investment associated with this program. Environmental Category and Issues This is a Category B project according to IFC''s environmental review procedure. Environmental issues associated with this project include: historical/archaeological structures, liquid effluents, solid waste, water and power supply, and CFCs. Health and safety issues include fire safety and emergency response. The sponsor will install a dedicated sewage treatment plant and will complete an independent fire safety audit of hotel design plans. Water and power will be supplied from the municipal authorities/local grid. No CFC based equipment will be installed. Care has been taken to replant and preserve trees on site and the sponsor is supporting, as agreed with the Palestinian Authority, the construction of a new school to relocate the primary/ secondary public girls school that was located on site. Project design clearance will be obtained by the sponsor from the Ministry of Tourism and Antiquities and appropriate archaeological authoritiesrequirements. IFC will ensure ongoing compliance with World Bank environmental, health and safety policies and guidelines during the life of the project by evaluating and monitoring reports submitted annually to IFC by PTIC and by conducting periodic supervisions. The Environment Review Summary is expected to be available from the Public Information Center on June 1, 1998. Date SPI sent to Infoshop May 29, 1998 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 P:\PIC\xos08649.doc May 29, 1998 4:43 PM Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Palestine Tourism Investment Company
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
AB - Resort Hotel (Including Lodges)
Total: $9.35 million
8000000.00
1350000.00
8000000.00
Palestine Tourism Investment Company
1350000.00
Palestine Tourism Investment Company
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8649/palestine-tourism-investment-co-ltd
XM-DAC-903-SPI-8698
International Finance Corporation
Peace Tech Fund
Summary Of Project Information (SPI) Project Name West Bank and Gaza-Peace Technology Fund Region Central Asia, Middle East and North Africa Sector Project No008698 Projected Board DateJanuary 16, 1998 Company NamePeace Technology Fund Technical Partner and/or Major Shareholders Evergreen Canada Israel Limited Capital Investment Management Corporation Project Cost Including Proposed IFC Investment Equity investment of up to US$20 million in the Fund and equity participation of 20% in a separate Fund Management company (FMC) to be established to manage the Fund, for an investment of up to US$200,000. Location of Project and Description of Site West Bank and Gaza Description of Company and Purpose of Project (include IFCs Role and Development Impact) The proposed project involves the establishment of an investment fund for the West Bank and Gaza. The objective of the Fund is to realize above average returns from investments in equity and equity related securities of companies principally located in the West Bank and Gaza. The Fund is expected to invest in labor intensive industries, whether located in the industrial estates or elsewhere in the West Bank and Gaza. The Fund will encourage the establishment of WBG enterprises and there by contribute to job creation. Environmental Category and Issues This is a Financial Intermediary (FI) category project according to IFCs environmental review procdure. The Peace Technology Fund will be required to undertake an environmental review of eligible investee companies operations. In addition, IFC will assess the Peace Technology Funds capability to carry out environmental reviews of each investee company. Date SPI sent to InfoShop January 9, 1998 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384
Peace Technology Fund Ltd.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
BA - Private Equity/Venture Cap Fund - Country
Total: $20.00 million
20000000.00
20000000.00
Peace Technology Fund Ltd.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8698/peace-tech-fund
XM-DAC-903-SPI-8914
International Finance Corporation
Palestine Mortgage and Housing Corporation
Summary Of Project Information (SPI) Project Name West Bank & Gaza-Palestine Mortgage & Housing Corporation (PMHC) Region Central Asia, Middle East and North Africa Sector Project No008914 Projected Board DateApril 30, 1998 Company NamePalestine Mortgage & Housing Corporation (PMHC) Technical Partner and/or Major Shareholders PMHCs major local sponsors are Palestine Development and Investment Co. Ltd. and the Arab Bank Group. Palestinian National Authority and the Palestinian Monetary Authority are currently the initial founding shareholders of PMHC and will retain a minority equity position in PMHC after the capitalization of PMHC by private investors. Other shareholders are expected to include almost all the commercial banks present in West Bank and Gaza (WBG) as well as some insurance companies. Canadian Mortgage and Housing Corporation (CMHC), a Canadian crown corporation and the largest mortgage financial institution in Canada with total assets of US$ 11 billion, will act as the PMHCs technical partner. Project Cost Including proposed IFC investment In the first year, PMHC will be funded by shareholders'' equity (US$ 20 million), of which IFC''s equity investment will be up to US$ 4 million for a 20% shareholding, and by the World Bank''s IDA Loan (US$ 17 million). In the second year, PMHC will raise US$ 35 million, out of which IFC''s A loan will be up to US$ 25 million. Location of project and Description of site West Bank and Gaza Description of Company and Purpose of Project The project involves the capitalization of a new financial institution, Palestinian Mortgage and Housing Corporation (PMHC). PMHC is a joint project with the World Bank, which has committed to provide a US$ 17 million IDA loan for PMHC through the Palestinian National Authority. The project aims to create a commercially viable institution, which will develop the mortgage market in WBG and facilitate the flow of capital into this market. The objectives of PMHC are to refinance long term mortgage loans originated by primary mortgage lenders and to insure the mortgage loans against non-repayments by their borrowers. Environmental Category and Issues This is a category C project according to IFC''s environmental review procedure. No further environmental review is required. Date SPI sent to PIC March 25, 1998 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384
Palestine Mortgage and Housing Corporation Limited
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
EA - Primary Mortgage Institutions
Total: $19.00 million
15000000.00
4000000.00
15000000.00
Palestine Mortgage and Housing Corporation Limited
4000000.00
Palestine Mortgage and Housing Corporation Limited
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8914/palestine-mortgage-and-housing-corporation
XM-DAC-903-SPI-8925
International Finance Corporation
SEF Al-Ayyam Printing Company
Summary Of Project Information (SPI) Project Name West Bank & Gaza-Al-Ayyam Project Region Central Asia, Middle East and North Africa Sector Project No008925 Projected Board DateApril 25, 1998 Company NameAl-Ayyam Press, Printing, Publishing and Distribution Company Technical Partner and/or Major Shareholders Al-Ayyam Press, Printing, Publishing and Distribution Company is a private shareholding company with a paid-up capital of US$4.3 million and 17 shareholders. The Company is owned by a group of prominent Palestinian businessmen, including Mr. Sabieh Masri (40%), Mr. Akram Hanieh (15%, Mr. Bashar Masri (13%), and Cairo-Amman bank (7%). Project Cost Including proposed IFC investment IFC loan of US$1.8 million. The total project cost is US$4.85 million. Location of project and Description of site The Company''s printing operations are located in the West Bank city of Ramallah. Description of Company and Purpose of Project The aim of the investment is to help upgrade and expand the printing capacity, as well as to refinance medium-term debt, thereby, reducing financial costs and burden of annual repayments. The project is expected to ultimately increase sales in the local and export markets. Environmental Category and Issues This is a category B project according to IFC''s environmental review procedure. Environmental, health and safety issues associated with this project include: the environmental performance of the existing operations; the storage and handling of solvents and printing inks; air emissions of volatile organic compounds; disposal of solvent and other wastes; and workplace health and safety; and employee exposure to solvents. Printing ink used in this facility is all biodegradable and no solvent-based ink is used. Film developing solutions are recycled, as is water paper. Reasonable and adequate fire prevention and general worker health and safety provisions have been incorporated in the project. The is from the Public Information Center. Host country location of environmental documents USA Date SPI sent to PIC March 25, 1998 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Al-Ayyam Press, Printing, Publishing And Distribution Company Ltd.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
BA - Internet Access Providers (Including ISPs, Datacenters)
Total: $1.80 million
1800000.00
1800000.00
Al-Ayyam Press, Printing, Publishing And Distribution Company Ltd.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8925/sef-alayyam-printing-company
XM-DAC-903-SPI-25620
International Finance Corporation
Wataniya Palesti
The project consists of the construction and operation of a greenfield mobile cellular telephone network in the West Bank, Palestian Territories. The project will be implemented by Wataniya Palestine Mobile Telecommunication Company Limited (Wataniya Palestine or the company), a company owned 57% by Wataniya International FZ LLC, which is turn is 51% owned by the Qatari incumbent Qatar Telecom, and 43% by the Palestine Investment Fund. Wataniya Palestine was awarded the second GSM mobile license in West Bank/Gaza in March 2007 through an open tender process for $354 million equivalent.
The project will offer a wide range of standard and value added mobile services in Palestine; given the poor state of the existing telecommunications infrastructure in the country, the project will have a significant development impact for both individuals and businesses. Teledensity (both fixed and mobile) is low by regional standards; mobile service remains expensive and is accompanied by poor coverage, thus delaying the spread of mobile services to low income urban and rural communities. The Project will improve access to reliable and affordable telecommunication services for consumers and businesses in Palestine and the Company projects that mobile penetration will increase from 36% at project launch to 58% by 2016.
The project will also support the telecom liberalization process intiated by the Palestinian Authority with the help of the World Bank. The telecom law of 1996 created the fixed and mobile licensing framework for the incumbent Paltel and also enabled the introduction of competition through the award of a second mobile license in December 2006. A new telecom law is currently under review, which will introduce modern principles of regulation and competition in the sector. The project will support this process, with the planned IPO of the company in early 2009 being a further step towards full sector liberalization.
WATANIYA PALESTINE MOBILE TELECOMMUNICATIONS PSC
Brent Muckridge
Chief Financial Officer
Wataniya Palestine Mobile Telecommunication Company
brent.muckridge@wataniya-palestine.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
The project will be headquartered in Ramallah and will provide GSM mobile services in the West Bank.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
AC - Mobile Telephony
Total: $30.00 million
30000000.00
30000000.00
WATANIYA PALESTINE MOBILE TELECOMMUNICATIONS PSC
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25620/wataniya-palesti
XM-DAC-903-SPI-26766
International Finance Corporation
PEF Student Loan
Palestinian Education Fund and IFC are planning to establish a risk-sharing student loans facility in the West Bank and Gaza. The Facility will be used to provide loans to students who have difficulty affording the upfront tuition fees for their tertiary education, thus providing them with up to 8 years to pay these fees. This will be the first private student loan financing facility in the Palestinian Territories. The student loans originated under the Facility will be funded and serviced by a local bank, with whom IFC will assess the credit risk. It is part of IFCs strategy to develop student loans.
The project will have a strong development impact by: - Improved access and increased affordability for higher education for students in the West Bank and Gaza - Change culture of non-payment and foster ownership of ones education - Reduce family burden to pay for childrens higher education - Provide universities with more reliable and increased tuition fee collection mechanism - Enable future students to participate in higher education with minimum budget contribution from the government through a revolving student loan facility
BANK OF PALESTINE PLC
Rana Jadallah Palestine Education Fund Paltel Group, PO Box 636, Ramallah, West Bank Telephone: 970 2 2944103 Fax: 970 2 2350453 E-mail: rana.jadallah@paltelgroup.ps
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
The facility will be available for students studying at traditional universities in the West Bank and Gaza. The local bank will have a branch network that can serve the target student population in both locations.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
AB - Colleges, Universities, and Professional Schools
Total: $16.00 million
16000000.00
16000000.00
BANK OF PALESTINE PLC
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26766/pef-student-loan
XM-DAC-903-SPI-27016
International Finance Corporation
WBG Project
The proposed project would establish a program for affordable home loans to lower and middle income segments of the Palestinian Population initially in the West Bank and when conditions permit, in Gaza. The initiative takes a long, term programmatic approach to improve the lives of Palestinian families living in unsafe, substandard or severely cramped housing conditions in West Bank and Gaza. The program would combine the provision of technical assistance for the development of the overall mortgage market in Palestine and the availability of long term mortgages that would be designed to make home ownership affordable to target segments of the Palestinian population. A mortgage servicing company AMAL would be formed to perform certain master servicing and other functions related to the project.
The Development Impact of this project is likely to be high. The specific development impacts of this project would be:
Significant improvement to the enabling environment for the creation of a viable housing finance market in West Bank. Institutional and legal constraints today create major obstacles to mortgage lending. It is expected that the removal of such obstacles particularly registration of titles, difficulty of foreclosures will encourage lenders to come into the market and scale up their lending programs.
Access to finance for middle and low income individuals. The project will make affordable, long term home finance available to a significant number of people in the low and middle income brackets. The homes financed will help improve the living standards of the borrowers as they get access to safe and more spacious housing as compared to the overcrowded and cramped conditions they currently face. The longer term of the mortgages to be provided under the program will play a major role in making homes more affordable by reducing the monthly payments to a level that could be serviced by a broader segment of the population.
Boost to the construction sector: Although the program is intended to fund only mortgages and not construction, the creation of effective demand by the financing available under the program will encourage developers to take a more active approach in developing their projects as the risk to them will be reduced by an increase in the number of potential buyers. The program may include financing of progress payments for booking of units in multifamily housing developments in the construction phase.
Restarting the mortgage market. As the program will be making mortgages under a difficult environment, it would be sending a positive signal to other institutions. The success of the project would encourage other entities to come into this market and help build a more sustainable housing finance market in West Bank.
AFFORDABLE MORTGAGE AND LOAN CORPORATION
Robert Drumheller
Overseas Private Investment Corporation (OPIC)
Vice President of Structured Finance,
1100 New York Avenue, NWWashington, D.C. 20527
Telephone: 202 336 8480
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
The project shall operate initially in the West Bank. Commencement of the project in other geographic areas otherwise eligible for support, such as Gaza, shall be subject to the unanimous agreement of the Lenders.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
EA - Primary Mortgage Institutions
Total: $75.40 million
75400000.00
75400000.00
AFFORDABLE MORTGAGE AND LOAN CORPORATION
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/27016/wbg-project
XM-DAC-903-SPI-27017
International Finance Corporation
Bank of Palestine P.L.C
Bank of Palestine (BoP or the Bank) is the first and largest national bank with a well diversified branch network with 31 branches in West Bank and Gaza. Established in 1960, originally in Gaza city, the Bank has successfully expanded its presence and operations in West Bank, and in 2007 established its head office in a prestigious new building in Ramallah. BoP now has 19 branches in West Bank and 12 in Gaza. BoP has 14% market share of deposits and credit facilities among 22 foreign and local banks active in West Bank and Gaza. Operating as a universal bank, BoP is largely engaged in retail and commercial lending operations, with the largest card processing operations in West Bank and Gaza. BoP is the sole member and franchise owner for Visa and Master Card International in Palestine with over 1,500 point of sale machines throughout Palestine. BoP has a large and well diversified branch network with 30 branches and outlets across West Bank and Gaza. The project is aimed to support the Banks growth and regional expansion plans.
The project will have strong development impacts. It will: - support a leading local financial institution in its growth and regional (i.e. Jordan) and international expansion as well as enhance the depth and expansion of the financial system of West Bank and Gaza; - enhance the Banks profile in its focus on banking products and services, including to SMEs and low income people, especially in frontier and conflict-affected cities of Gaza, which is crucial for the sustainable development of the private sector in West Bank and Gaza; - share IFCs expertise and knowledge of best practices with the Bank, facilitate capacity and institution building and helping the Bank with effective risk management and governance structures; - strengthen the Banks capacity in environmental and social management; - support existing and future projects and programs with the bank (eg Housing Mortgage and Student Loan, Private Equity and Funds) - create a demonstration effect for other institutions to become active in West Bank and Gaza.
BANK OF PALESTINE PLC
Mr. Hashim H. Shawa, General Manager & Vice Chairman Bank of Palestine P.O.Box 471, Ramallah, West Bank & Gaza Telephone: +970-2-2970990 Fax: +970-2-2970980 Website: www.bankofpalestine.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
BoP is headquartered in Ramallah with a General Management office also in Gaza. The bank has the largest branch network with 31 branches across several cities in West Bank and Gaza.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
AA - Commercial Banking - General
Total: $25.00 million
25000000.00
25000000.00
BANK OF PALESTINE PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/27017/bank-of-palestine-p-l-c
XM-DAC-903-SPI-30178
International Finance Corporation
FATEN Project
The project entails a senior term loan to Palestine for Credit and Development, Faten, a leading microfinance institution in West Bank and Gaza, to provide it with the needed financing to support its microfinance activities and expand its outreach.
i) Access to finance: Through this project, IFC would support the growth of a well managed and financially sound MFI in West Bank and Gaza, Faten, which would result in expanding much needed access to finance for low-income Palestinians.
ii) Job creation: The small and micro enterprises (SMEs) sector accounts for about 79% of total employment and as such is a key source of job creation and income generation and a powerful tool for combating poverty. IFC's engagement with Faten would have a significant impact since Faten is a major player in the market and solely dedicated to serving the micro entrepreneurs.
(iii) Medium-term funding: IFC will provide Faten with the much needed medium-term funding that is otherwise not available in the market, to enable the company to continue supporting, and further grow its clients' base. The social and developmental impacts would be very high especially that women borrowers represents significant percentage of Faten's clients.
PALESTINE FOR CREDIT AND DEVELOPMENT
Mr. Anwar Jayyusi Managing Director
Palestine for Credit & Development - Faten
P.O.Box 2446, Ramallah
West Bank and Gaza
Tel: +970-2-2961470/1
Fax: +970-2-2961472
ajoyyosi@faten.org
www.faten.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Faten is headquartered in Ramallah and has 10 branches covering different areas of the West Bank and Gaza. Investments can be made throughout the Country.
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
HA - Microfinance and Small Business - Non Commercial Banking
Total: $3.00 million
3000000.00
3000000.00
PALESTINE FOR CREDIT AND DEVELOPMENT
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30178/faten-project
XM-DAC-903-SPI-31545
International Finance Corporation
Wataniya II
Wataniya Palestine Mobile Telecommunications PLC (the Company), an existing IFC client and second mobile licensee in West Bank and Gaza, has asked IFC to assist it in arranging a US$125 million debt facility to finance the Companys continued expansion in the West Bank and Gaza along with refinancing an existing debt facility (the Project). The Company launched its operations in the West Bank in November 2009 and has reached 465,000 subscribers, as of December 31, 2011. The project would result in the Companys capacity to serve more than 2 million subscribers and could result in 3G services being offered for the first time in the West Bank and Gaza.
The Project will have the following development impacts: - Improve access to telecommunications services: The Project will improve the availability of reliable and affordable communications for consumers and businesses in the West Bank and Gaza. Access to reliable, high quality voice and data services is key for economic activity and for personal and family lives, especially given the many restrictions on mobility currently in place throughout the territories. - Spur competition: Mobile sector in West Bank and Gaza is highly dominated by the incumbent operator. As the Company will expand in the market, it is expected to improve the quality, coverage and cost for the mobile users. - Increased employment: The Project will create quality employment opportunities at both the Company and the distributor level in the West Bank and Gaza, which suffer from 15% and 26% unemployment rates respectively. The Company has approximately 410 employees as of December 31, 2011 in the West Bank and plans to hire an additional 160 in Gaza, by the end of 2013.
WATANIYA PALESTINE MOBILE TELECOMMUNICATIONS PSC
Wataniya Palestine Mobile Telecommunications Company Tri-Fitness Building Sateh Marhaba, Al Bireh PO Box 4236 Palestine Tel: +970 (0) 2 241 5000 IR@wataniya.ps
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
West Bank and Gaza
Financing amount will be spent for capital expenditures related to 2G network expansion and 3G network rollout in the West Bank and Gaza, repayment of the outstanding loans and interest expense on the new and oustanding loans, and payment of the license fee obligation to the Palestinian Ministry of Telecommunications and Information Technologies (MTIT).
Location description
A description that qualifies the activity taking place at the location.
32.0000000000 35.0000000000
AC - Mobile Telephony
Total: $50.00 million
50000000.00
50000000.00
WATANIYA PALESTINE MOBILE TELECOMMUNICATIONS PSC
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/31545/wataniya-ii