XM-DAC-903-SII-31863
International Finance Corporation
SES Power Project
IFC is considering and equity investment and a loan to Sakr Energy Solution FZCO (SES or the Company), a multiregional power rentals and emergency power solutions provider. SES is a regional provider of power generation solutions to serve temporary and short to medium term energy needs across the MENA region and in Africa, headquartered in Jebel Ali free zone in Dubai. The Company is capable of serving both small short-term clients with power generation needs starting at 50 kVA and large long-term utilities, governments and companies with power requirements of up to 60 MW. This Company is a provider of power generation solutions to serve temporary and medium-term energy needs across the MENA region and Africa. By investing in the Company, IFC would be supporting the expansion of a business which addresses the power supply-demand imbalance in these difficult emerging countries and give them the time to implement efficient permanent solutions. This Project fits well with IFCs strategic priorities in the MENA region by catalyzing South-South investments and promoting investments in the frontier countries and sectors and improving infrastructure services.
1. The project is expected to alleviate the demand-supply deficit in MENA and Africa and mitigate the negative impact on economic growth. 2. Through investing IFC will help capitalize a player with the technical expertise and risk appetite to invest in frontier countries. 3. SES'' additional capacity is expected to be deployed to also alleviate disaster induced power shortages. 4. The project will help to facilitate economic growth by making available short term capacity to large scale industrial projects, overcoming supply bottle-necks. 5. The deployment of units to remote areas that are not yet connected to the national grid increases rural access to electricity.
SMART ENERGY SOLUTION
SES FZCO Waleed Ishak Warehouse RA08XB06 PO Box 18051 Jebel Ali Free Zone Dubai United Arab Emirates Tel: +97148862067 Fax: +97148862067
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
SES FZCO Waleed Ishak Warehouse RA08XB06 PO Box 18051 Jebel Ali Free Zone Dubai United Arab Emirates Tel: +97148862067 Fax: +97148862067
Middle East Region
SES is headquartered in the Jebel Ali Free Zone, Dubai, UAE. However, SES projects are located in Najran, Riyadh, Northern Province (Kingdom of Saudi Arabia), Aden (Yemen), Dodoma (Tanzania), and Liwa (Sultanate of Oman).
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
V-AE - Multi Fuel - Thermal Power Generation
Total: $17.10 million
12000000.00
5100000.00
12000000.00
SMART ENERGY SOLUTION
5100000.00
SMART ENERGY SOLUTION
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/31863/ses-power-project
XM-DAC-903-SII-32036
International Finance Corporation
Viking Services BV
Viking Services BV (Viking) and its subsidiaries are acquiring new oilfield services equipment and regional companies, which own oilfield services equipment, for expansion of its existing operation in Turkey and northern Iraq, as well as expansion to eastern Europe and northern Africa. With the acquisition, Viking will increase its drilling rig fleet from 15 to 20 and seismic crews from three to five.
i. Development of the hydrocarbon sector in Turkey and Iraq: The Thrace Basin in Turkey is the country''s largest producing gas province providing opportunities for gas exploration. Any gas produced in the Thrace Basin is going to be used domestically. Being the main private oil services company in Turkey, the company will help oil and gas operators develop indigenous hydrocarbon resources and thus contribute to the country''s goals of reducing energy dependence and displacing other fuels with natural gas. As Iraq hopes to significantly boost its output capacity which continues to be crucial for the country''s economic recovery, the company''s oilfield services are an important contribution to sector development in the region it operates. ii. Increased competition in the service sector: The company''s competition in Turkey is generally of poor quality and high cost. Through establishing and expanding its operations, the company will aim to provide more competitive pricing for its services, and offering improved quality and response times in Turkey. iii. Employment and training: The company currently employs an international workforce of roughly 1,100, almost 90% of which are local hires. Viking has been actively developing local talent and hiring locally has been key in its community engagement strategy. If it is successful in its expansion plans, it is expected to need additional employees in its markets of operations. Creating and preserving jobs in the sector that currently lacks qualified providers will have positive benefits for these markets in helping create local expertise through employment and training.
VIKING SERVICES BV
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
In Turkey: Turkey Office Akmerkez, Block-B Floors 56, Nisbetiye Caddesi 34330 Etiler / Istanbul, Turkey In Iraq: Erbil Office English Village, Villa 73 Erbil, Iraq
Middle East Region
Expansion of the companys oilfield services are expected to be mainly in Turkey and northern Iraq.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
B-EA - Oilfield Services
Total: $50.00 million
50000000.00
50000000.00
VIKING SERVICES BV
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/32036/viking-services-bv
XM-DAC-903-SII-32145
International Finance Corporation
Metito III Project
Metito Holdings Limited (the Company or Metito), an existing IFC client, is the largest Middle Eastern-based privately-owned water group with operations in developing markets. The Company has asked IFC to assist it in arranging up to a US$120 million debt facility to finance the Companys future projects (including expansions of existing facilities) and consolidate existing medium term facilities (the Project) from its subsidiaries into a single longer term corporate loan. The Company is well situated in the water deficient Middle East and North Africa (MENA) region and in China, where it is further expanding its presence. The Project would provide the Company with a longer term, consolidated financing package better adapted to its growth plans.
1) Support for a Regional Player in the Water Sector by putting in place a more suitable capital structure to support its growth plans. 2) Increase in Access to Services by helping Metito to pursue new projects and expand capacity at existing plants, and thus to widen service access significantly. 3) Promotion of Water Reuse in Africa and Asia. 4) Enhancement of Competition and demonstration of the benefits of private sector participation by investing in private sector water projects in MENA and China, which are areas that have relatively few private sector players. 5) Development of Emerging Markets by supporting the Company to further grow its presence in MENA, Asia and Sub-Saharan Africa and, to contribute to balanced rural and urban development in developing countries with increased investment.
METITO HOLDINGS LTD
John Wheatley Group Finance Director Telephone Number: +971 4 810 3347 Fax Number: +971 4 810 3300 Address: P.O Box 262335, Dubai, United Arab Emirates
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
The Environmental and Social Review Summary (ESRS) will be made available at the corporate office. Metito Headquarters Address: P.O Box 262335, Dubai, United Arab Emirates Telephone Number: +971 4 810 3347 Fax Number: +971 4 810 3300
Middle East Region
Metito is headquartered in Dubai, United Arab Emirates and is active throughout the MENA region and Asia, particularly in Egypt and China. The Company has a wholly-owned subsidiary that owns and operates five large wastewater and sewage treatment plants in China and also has small concessions in Indonesia. Metito aims to continue growing its business in the MENA region and in China as well as to further expand in Asia and Sub-Saharan Africa.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
C-BA - Water and Wastewater Utilities
Total: $50.00 million
50000000.00
50000000.00
METITO HOLDINGS 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/32145/metito-iii-project
XM-DAC-903-SII-32558
International Finance Corporation
GTLP Extn FIM Bank
The project is to provide FIMbank (or the Bank), with a trade finance facility of up to $30 million to support the Banks trade finance activities in MENA and Sub-Sahara Africa. The Facility will be funded as part of IFCs Global Trade Liquidity Program (GTLP) which was created as part of IFCs extended commitment to support global trade finance in order to increase the reach to some of the enterprises in emerging markets by addressing the liquidity constraint that they are as well as some of the financial institutions are still facing.
(a) Channeling liquidity for trade financing in the Africa, and MENA regions which is vital to the survival of SMEs in those regions, thereby preserving jobs at such SMEs and the FIs; (b) Strong demonstration effect to support trade finance activities - a main artery to economic health and recovery, especially in emerging markets - through providing longer tenor sources of financing.
FIMBANK P.L.C.
Ms. Margrith Lutschg-EmmeneggerPresidentFIMBankMercury Tower, The Exchange Financial and Business Centre, Elia Zammit Street, St. Julian''s, STJ3155, Malta.Ph: +356 21322100E-mail: mailto:margrith.lutschg@fimbank.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
FIMBank is headquartered in Malta.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
O-GA - Trade Finance
Total: $30.00 million
30000000.00
30000000.00
FIMBANK P.L.C.
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/32558/gtlp-extn-fim-bank
XM-DAC-903-SII-32571
International Finance Corporation
Circle Oil Project
Circle Oil plc (Circle Oil), established in 2003, is an oil and gas exploration and production company incorporated in Limerick, Ireland, focused on the MENA region. The proposed investment by IFC will fund Circle Oils production, development and exploration program in Egypt, Tunisia and Morocco and support its production growth plan.
Contribution to Government Revenues: The Project is expected to result in higher and longer production in Egypt and Morocco, positively impacting the revenues that the host governments will receive including through production sharing, royalties, corporate taxes. Providing Cleaner Source of Energy to the Moroccan Industry: Circle Oil is the largest gas producer in Morocco and sells the produced gas to industrial consumers in Kenitra. Those consumers'' only other energy alternatives are imported coal or fuel oil /diesel. Natural gas produced by Circle Oil provides cheaper and cleaner energy. Local Industry: The project is expected to contribute to local spending in Morocco and Egypt as part of the field services and operational supplies will be procured domestically. Particularly in Morocco, Circle Oil will contribute to the growth of a small, nascent, oil field services industry which is vital for further exploration and development of the country''s oil and gas resources. Creation/preservation of employment: Even though the project''s impact on employment is expected to be limited, the jobs created by Circle Oil are mainly high skilled and therefore contribute to local skill development and foster technology transfer.
CIRCLE OIL PLC
Brendan McMorrow Chief Financial Officer Circle Oil Plc 2 New Wellington Terrace O''Connell Avenue Limerick Ireland mailto:info@circleoil.net Telephone: +353-61-319366Fax: +353-61-310210
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Dr. Shamil Douad Country Manager, Morocco Circle Oil Maroc Limited 2 Rue GHZAOUA Souissi LA PINEPED 10000 Rabat Kingdom of Morocco mailto:morocco@circleoil.net Hassan Hataba Country Manager, Egypt Circle Oil Egypt Ltd 44 Palastine Road New Maadi Cairo Egypt mailto:egypt@circleoil.net Ali Chine Country Manager, Tunisia 2eme Etage, Immeuble IRIS, Rue Lac Malaren Les Berges du Lac 1053 Tunis Republic of Tunisia mailto:tunisia@circleoil.net
Middle East Region
In Egypt, Circle Oil has interests in a single onshore producing asset (North West Gemsa in the Gulf of Suez region). In Morocco, Circle Oil has operated interests in two producing, development assets (Sebou and Oulad NZala) and one exploration permit (Lalla Mimouna). All the Moroccan assets are located onshore north of Kenitra.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
B-AB - Oil and Gas Production (Includes Development)
Total: $50.00 million
50000000.00
50000000.00
CIRCLE OIL 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 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/32571/circle-oil-project
XM-DAC-903-SII-32640
International Finance Corporation
GC Credit Project
The project consists of a US$20 million equity investment, not to exceed 20% of total commitments, in GC Credit Opportunities Fund, L.P (the Fund). The Fund, sponsored by Gulf Capital Pvt. JSC (Gulf Capital), has a target size of US$300 million and focuses on a diversified portfolio of debt instruments including, but not limited to, mezzanine instruments, preferred equity securities, high yield debt securities, convertible and other similar income producing securities and obligations (or options, warrants or equity interests relating thereto) in the Middle East and North Africa (MENA) region (collectively, the Target Region) with a majority of the Investments expected to be made, directly or indirectly, in companies in the Levant, Turkey and Egypt, as well as in the Gulf Cooperation Council countries of Bahrain, Kuwait, Oman, Qatar, the Kingdom of Saudi Arabia and the United Arab Emirates. The Fund may invest up to 20% of total commitments in companies that are headquartered, operate principally, or founded outside the Target Region, but which have operations and/or interests in the Target Region.
- Fund focuses on growth midcaps and SMEs, which lack access to financing especially the growth capital type. Only 20% of MENA SMEs have access to credit, lowest in the World; - Establishment of credit and mezzanine funds in the region introduces additional and complementary sources of financing to the financial markets which are currently dominated by state-owned banks; - Focus on midcap and SMEs fosters job creation in a region where youth unemployment rate is at 24%; higher than any other region; - Proactive role played by the Fund is a part of its strategy in helping the companies execute growth strategies through balance sheet optimization, board seat positions and implementing operational improvements; all of which would lead to improved governance and private sector development.
GC CREDIT OPPORTUNITIES FUND, LP
Elbrus Capital 52nd Floor Moscow City Naberezhnaya Tower, Block C 10 Presnenskaya Nab. Moscow, 123317, Russia Tel.: +7 (495) 663-7400 Fax: +7 (495) 663-7407 E-mail: info@elbcp.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will make investments in debt instruments in respect of companies based in the Target Region. The expected breakdown of the portfolio is 30-40% Turkey, 30-40% MENA and 20% GCC countries.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BB - Private Equity/Venture Cap Fund - Regional
Total: $20.00 million
20000000.00
20000000.00
GC CREDIT OPPORTUNITIES 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/32640/gc-credit-project
XM-DAC-903-SII-33021
International Finance Corporation
Mediterrania Capital II
The project entails an IFC equity investment of up to Eur 15 million in Mediterrania Capital Partners II (the Fund), a 8-year closed-end generalist private equity fund targeting Eur 120 million in commitments. Mediterrania Capital Partners (Mediterrania) will be the investment advisor to the Fund, which will take primarily minority positions in SMEs and mid cap companies in Algeria, Morocco and Tunisia (the Region). The Fund expects to make approximately 10-12 minority investments in SMEs and mid cap companies in the Region, with estimated ticket sizes ranging from Eur 3-15 million each.
(i) Support for SMEs in the Maghreb: all target portfolio companies will be in the SME and mid market segment. IFC experience has shown that small to midcap companies can achieve higher job creation rates than large cap companies. (ii) Private Sector Development: the fund manager employs a hands-on value added strategy to help portfolio companies improve operational efficiency and competitiveness leading to improved competitiveness and sustainability. (iii) Economic Development: long-term capital to under-banked sectors with capital needs allows new businesses and markets to develop which lead to increased employment and output.
MEDITERRANIA CAPITAL II (SICAV) PLC
Albert Alsina Mediterrania Capital Partners 39, Rue Normandie Racine20100 Casablanca AnfaMoroccoTel: +212 5227 90940Fax: +212 2236 9772
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will make investments in the Maghreb countries of Algeria, Morocco and Tunisia.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BB - Private Equity/Venture Cap Fund - Regional
Total: $19.86 million
19860000.00
19860000.00
MEDITERRANIA CAPITAL II (SICAV) 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/33021/mediterrania-capital-ii
XM-DAC-903-SII-33121
International Finance Corporation
Renaissance MCB
Renaissance Services SAOG (Renaissance or the Company) is a multinational Oman based entity listed on the Muscat Securities Market with operations in 16 countries across the emerging markets. Renaissances core operations are focused on providing services to energy leaders in the oil & gas industry primarily in MENA and the Caspian region. It is organized in to three distinct businesses: (i) the marine business operates Offshore Support Vessels to support clients in the offshore oil & gas industry; (ii) the engineering business provides services to the oil & gas and marine industry; and (iii) the Contract Services Group provides accommodation facilities for oil & gas contractors. IFCs investment in the Company will be allocated to the capital expenditure requirements of its marine business.
The project would: (i) support the continued development of a key private sector player as it expands into more challenging emerging markets; (ii) contribute to the development of the transportation and logistics sectors in these markets, facilitating economic growth; and (iii) help the Company displace older vessels, assisting it with complying with new requirements for low sulfur emissions and thereby minimizing harmful greenhouse gas emissions.
RENAISSANCE SERVICES SAOG
Mr. Vishal Goenka Group Chief Financial Officer Renaissance Services SAOG Muttrah, Sultanate of Oman Tel: +968-24796636 Email: mailto:vishal@tawoos.com Website: http://www.renaissance-oman.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Company is headquartered in Oman and has operations across 16 countries. The vessels that IFC finances are will be used in the offshore oil and gas field support operations in World Bank Group client countries, including in MENA, the Caspian region and Africa.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
E-AC - Water Transportation
Total: $30.00 million
0.00
30000000.00
0.00
RENAISSANCE SERVICES SAOG
30000000.00
RENAISSANCE SERVICES SAOG
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/33121/renaissance-mcb
XM-DAC-903-SII-33736
International Finance Corporation
ACWA Equity
International Company for Water and Power Projects (the company) is a leading Middle East & North Africa (MENA)-based developer, investor, co-owner and operator of independent water desalination and power generation projects. From its main operations in Saudi Arabia, the company has in recent years expanded its business into other MENA countries (Oman, Jordan and Morocco) and further afield to Bulgaria, Turkey and the southern region of Africa (Mozambique and South Africa). The current portfolio of assets and investments delivers over 6,050 MW of power and around 2.3 million m³/day of desalinated water in Saudi Arabia; over 1,500 MW of power in Jordan; 427 MW of power and 91,000 m³/day of desalinated water in Oman and 60MWp using photovoltaic technology in its solar plant in Bulgaria. New capacity of over 6,100 MW of power generation, 55,000 m3/day of desalinated water and 2,270 tons per hour of steam capacity is under development or construction in Saudi Arabia. The companys 50 MWe concentrated solar power (CSP) plant in South Africa, 160 MWe CSP plant in Morocco and a 45,000 m³/day of water desalination project in Oman are under construction. In addition, the company is developing (pre-construction phase) an 835 MW gas-fired power plant in Turkey and two coal-fired power plants 270 MW in Mozambique and 450 MW in South Africa. The company plans to continue growing and diversifying its water and power generation portfolio across MENA and beyond in targeted countries through both greenfield developments and strategic acquisitions. IFC is considering an equity investment in the company to support its growth plan (the project), which includes increasing the share of renewable energy projects to 5-10% of the companys power generation portfolio and continued expansion of business in emerging markets outside of Saudi Arabia.
The project is expected to have the following development benefits: (i) by supporting the significant scaling-up of renewable energy projects in the company''s markets, help mitigate climate change impacts; (ii) increase power generation and desalination services to meet growing power and water demand in the MENA region and in other emerging countries; (iii) support South-South foreign direct investments to promote economic growth and development in non-GCC developing countries; and (iv) generate direct and indirect employment opportunities through the greenfield projects developed by the company.
INTERNATIONAL COMPANY FOR WATER AND POWER PROJECTS
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
P.O. Box 22616 Riyadh 11416 Kingdom of Saudi Arabia Tel: +966 11 2835555 Fax: +966 11 2835500
Middle East Region
The companys headquarter is located in Riyadh, Saudi Arabia whereas its business operations (projects or development offices) are currently spread across MENA (Saudi Arabia, Oman, Jordan and Morocco), Bulgaria, Turkey, China and the southern region of Africa (Mozambique and South Africa). The company will use the proceeds of IFCs investment for the development of renewable energy projects in its markets, and non-coal based thermal power generation and desalination projects outside of the GCC countries.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
V-AE - Multi Fuel - Thermal Power Generation
Total: $99.99 million
99990000.00
99990000.00
INTERNATIONAL COMPANY FOR WATER AND POWER 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/33736/acwa-equity
XM-DAC-903-SII-33806
International Finance Corporation
Wamda Ventures
Wamda Ventures I LP (the Fund or WVLP), is a venture capital fund dedicated to investing in early stage technology companies originating primarily in Jordan, Lebanon, Egypt and GCC Countries and opportunistically in the other countries in the Middle East Region. WVLP intends to invest in technology sub-sectors with asset light, high growth companies that are active in e-payments, e-commerce, premium content, and IT-enabled services. The Fund may also, on an opportunistic basis, consider investments in scalable technology based companies.
(i) Support for SMEs: IFC experience has shown that small to midcap companies can achieve higher job creation rates than large cap companies. IFC would support job creation in the MENA region as the Fund's strategy is in line with IFC's development impact strategy. (ii) Access to long term early stage venture capital is limited in MENA. The gap is currently filled with a fragmented network of angel investors (mostly friends and family) who have limited capacity for follow on investments, limited management skills and a smaller network with which to support the investee companies' growth. (iii) Support of local entreprenuership / innnovation in high growth technology / media / telecom sectors (iv) Private sector development: The ability of the Fund to indentify best practices and superior management skills in its invested companeis and subsequently disseminate them across the portfolio may lead to increased competitiveness and sustainability.
WAMDA MENA VENTURES I C.V.
Fadi Ghandour 33 Mecca Street Amman, Jordan mailto:Fadi@wamda.com Telephone: +962 6 5515111
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will have a local management team based in Amman, Jordan; Beirut, Lebanon; Cairo, Egypt and Dubai, UAE.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BC - Private Equity/Venture Cap Fund - Sector
Total: $10.00 million
10000000.00
10000000.00
WAMDA MENA VENTURES I 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/33806/wamda-ventures
XM-DAC-903-SII-33968
International Finance Corporation
Commercial Intelligence
The proposed Project consists of establishing the first Distressed Asset Recovery Program (DARP) facility and servicing platform in MENA, to support the acquisition, financing, guaranty & resolution of corporate and small, medium enterprises (SME) Non Performing loans (NPLs). The platform will help (i) build capacity to successfully operate in this business, (ii) ensure the use of appropriate NPL resolution practices and the alignment of interest amongst partners, and (iii) contribute to the financial stability of the region, which has been substantially impacted by the recent regional political crises. IFC will co-invest with the Commercial Intelligence Funds Group (CIFG or the proposed DARP partner), having substantial experience in investing and servicing NPLs in emerging markets), in a CIFG managed Master SPV. IFC will also invest in the MENA NPL Servicer, which shall facilitate the servicing of the acquired NPLs across MENA countries focusing on Pakistan, Egypt, and Lebanon.
The expected developmental impact from this project are high. Specifically, the project is expected to encourage: 1. NPL sellers, buyers, and servicers to enter the MENA market, thereby helping develop the market. 2. The adoption of insolvency standards, creditors'' rights and collection practices for the efficient resolution of NPLs. 3. the development of a new mechanism to execute NPL transactions at their market value, thereby encouraging other market participants to replicate the Project.
Commercial Intelligence Funds Group
Mr. Michael Shone Chairman Commercial Intelligence Funds Group 25 Duxton Hill, #03-01 Singapore 089608 Email: mailto:mshone@cifundsgroup.com Tel: +65 6303 9788 Fax: + 65 6303 9789 Mr. Mateen Beg Chief Executive Officer CIFG Makeen Capital Limited Office 1002, Liberty House, DIFC Dubai, U.A.E Email: mailto:mbeg@cifundsgroup.com Tel: +9714 4 4296020 Fax: +9714 4 4296021
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Project shall cover the MENA region with a primary focus on Pakistan, Lebanon and Egypt. The project shall be co-managed by CIFG through an office in Dubai, UAE, keeping a strong liaison with its principal offices in the UK and Singapore.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
O-FB - Distressed Assets SPV
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/33968/commercial-intelligence
XM-DAC-903-SII-34118
International Finance Corporation
EuroMena III LP
The project entails an IFC equity investment of up to US$15 million in EuroMena III L.P. (the Fund), a 7-year closed-end generalist private equity fund targeting US$150 million in commitments. Capital Trust Group will be the General Partner of the Fund, which will take primarily minority positions in SMEs and mid cap companies in the MENA region (the Region). The Fund expects to make approximately 8-10 investment in the Region, with estimated ticket sizes ranging from US$10 million to US$20 million each.
(i) Support for SMEs in the MENA region: all target portfolio companies will be in the SME and mid-market segment. IFC experience has shown that small to midcap companies can achieve higher job creation rates than large cap companies. (ii) Private Sector Development: the fund manager employs a hands-on value added strategy to help portfolio companies improve operational efficiency and competitiveness leading to improved competitiveness and sustainability. (iii) Economic Development: long-term capital to under-banked sectors with capital needs allows new businesses and markets to develop which lead to increased employment and output.
EUROMENA III LIMITED PARTNERSHIP
EMENA III FMC Management Limited Starco Building - Bloc C, Omar Daouk street, 8th floor, Beirut Lebanon Tel: +961 1 368 968 Fax: +961 1 368 324.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will make investments primarily in (i) Lebanon, Jordan and Egypt, secondarily in (ii) Algeria, Tunisia, Libya, Morocco, and opportunistically in (iii) the Palestinian Territories, Syria, and Iraq. The Fund can also make investments outside Mena for up to 15% under certain conditions.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BB - Private Equity/Venture Cap Fund - Regional
Total: $15.00 million
15000000.00
15000000.00
EUROMENA III LIMITED PARTNERSHIP
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/34118/euromena-iii-lp
XM-DAC-903-SII-34624
International Finance Corporation
GTLP Extn FIM Bank 2
The project is to provide FIMBank (FIM or the Bank), with a trade finance facility under the Global Trade Liquidity Program (GTLP) of up to US$30 million to support the Banks trade finance activities in MENA and Sub-Saharan Africa. The GTLP was launched in 2009, and extended in 2012 to re-launch a proven crisis response model developed during 2008-2009 financial crises and successfully executed for the last three years. FIMBank has participated in the first launch and later extension of the GTLP and this will be a repeat engagement with the Bank under the GTLP.
The proposed Project''s development impact is: (i) Channeling liquidity for trade financing in the Sub-Saharan Africa, and the MENA region which is vital to the survival of SMEs, thereby supporting jobs and economic growth in local markets. (ii) Strong demonstration effect by catalyzing other IFIs to support trade finance - a main artery to economic health and recovery in emerging markets and specially in Sub-Saharan Africa where its needed.
FIMBANK P.L.C.
Ms. Margrith Lutschg-Emmenegger President FIMBank Mercury Tower, The Exchange Financial and Business Centre, Elia Zammit Street, St. Julian''s, STJ3155, Malta. Ph: +356 21322100 E-mail: mailto:margrith.lutschg@fimbank.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
FIMBank is headquartered in Malta.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
O-AK - Commercial Banking - Trade and Supply Chain
Total: $30.00 million
30000000.00
30000000.00
FIMBANK P.L.C.
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/34624/gtlp-extn-fim-bank-2
XM-DAC-903-SII-34823
International Finance Corporation
Abraaj North Africa Fund II
The proposed project consists of an equity investment of up to US$20 million in Abraaj North Africa Fund II, L.P. (the Fund). The Fund is a closed-end private equity fund which will make investments in mid-sized private companies in Algeria, Egypt, Morocco, and Tunisia with a target Fund size of US$300 million.
(i) Job creation: The Fund's mid cap growth strategy is in full alignment with IFC's development impact goals. (ii) Access to finance: IFC's investment will support companies in North Africa by providing additional equity to the midcap market in a context of limited long term equity/risk capital. (iii) Private sector development: The Fund will employ hands-on management in portfolio companies, which will lead to improved competitiveness and sustainability thanks to the Fund's structuring and management know-how.
ABRAAJ NORTH AFRICA FUND II LP
Ahmed Badreldin Partner - MENA Region Head The Abraaj Group Dubai International Financial Centre (DIFC) Gate Village 8, 3rd Floor PO Box 504905 Dubai, United Arab Emirates Tel: +971 4 506 4500 Fax: +971 4 506 4600 Email : mailto:ahmed.badreldin@abraaj.com < mailto:mailto:ahmed.badreldin@abraaj.com >
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will make investments in Algeria, Egypt, Morocco, and Tunisia.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BB - Private Equity/Venture Cap Fund - Regional
Total: $20.00 million
20000000.00
20000000.00
ABRAAJ NORTH AFRICA FUND II 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/34823/abraaj-north-africa-fund-ii
XM-DAC-903-SII-34886
International Finance Corporation
SAB SAS Project
SAB (SAB or the Company) is a group of companies which designs, integrates and maintains a highly customizable core banking software that is currently used by about 130 financial institutions in 25 countries. The Company was founded in 1989 with its main offices in France, Tunisia and Lebanon. The Company is continuing its international growth and is seeking to raise growth capital from IFC to finance its international expansion in Africa, the Middle East and Asia (the Project).
(i) Innovation: IT innovations developed by entities like SAB are designed to help financial intermediaries enhance risk control and transaction processing systems, increase productivity notably through automation and customization of back to front office tasks, adapt to changes in market and regulatory environments, develop a wider range of financial products and expand into new distant markets. (ii) Job creation: SAB''s expansion and future hiring is expected to be essentially in emerging markets. In this respect, IFC investment will help retain talent and highly skilled staff in emerging markets (Tunisia and Lebanon as well as other emerging markets where SAB plans to invest) increasing such countries'' economic growth opportunities. (iii) Enhanced credibility for SAB''s clients: By meeting international standards promoted by IFC, SAB''s clients'' credibility will be enhanced in both developed and developing countries.
SAB SAS
Marie-Christine Serrot Address : 36, Boulevard de Vincennes, 94120 Fontenay-sous-Bois, France Tel : 00 33 1 43 94 94 01 Fax : 00 33 1 43 94 93 77 Email : mariechristinemailto:-serrot@sab2i.com Website : http://www.sab2i.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Marie-Christine Serrot Address : 36, Boulevard de Vincennes, 94120 Fontenay-sous-Bois, France Tel : 00 33 1 43 94 94 01 Fax : 00 33 1 43 94 93 77 Email : mariechristinemailto:-serrot@sab2i.com Website : http://www.sab2i.com
Middle East Region
The companys headquarter is located in Fontenay-sous-Bois, France and it has 2 main hub offices in Lebanon and Tunisia. As its business operations are spread across Africa (Morocco, Tunisia and Kenya), the Middle East (Saudi Arabia, Pakistan, Jordan, and Turkey) and Asia (Singapore, Malaysia), the Company has set up additional sales offices in those markets.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
R-BA - Computer Systems Design and Related Services (System Integration, Custom Computer Programming, IT Services etc.)
Total: $13.19 million
13190000.00
13190000.00
SAB SAS
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
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/34886/sab-sas-project
XM-DAC-903-SII-35909
International Finance Corporation
Gaia Equity
The proposed project is an IFC common equity investment of up to US$25 million, for a minority stake in Gaia Energy Partners Limited (Gaia or the Company), an independent renewable energy investment company incorporated in 2014 to develop, finance, acquire, build and operate renewable energy projects in the Middle East, Turkey and Africa region (the Project). Gaia is run by a skilled management team with extensive experience in developing and operating thermal and renewable power plants in the Middle East, Asia and Africa. Gaia is currently pursuing a pipeline of projects comprising onshore wind and solar PV projects; acquisition of its first small scale solar PV project in the Middle East is near completion. In addition to its primary focus on onshore wind and PV solar projects, future investments in hydropower, concentrated solar power, geothermal and biomass are a possibility.
-The Project will increase power generation to meet growing power needs in the Middle East, Turkey and Africa. -The Project will deliver climate change benefits and promote increased private sector participation in the Renewable Energy sector. -The Project will help generate direct and indirect employment through projects developed by Gaia.
ALCAZAR ENERGY PARTNERS LTD
Name: Andrew Smithson Title: Vice President Company: Gaia Energy Address: Suite 905, Park Place, Sheikh Zayed Road Mail to: mailto:asmithson@gaiaenergy.co Website: http://www.gaiaenergy.co
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
Gaia Energy Partners is based in Dubai, the United Arab Emirates, and is expected to develop, finance, acquire, build and operate renewable power projects in the Middle East, Turkey and Africa region.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
V-BJ - Renewable Energy Holding Companies
Total: $25.25 million
25250000.00
25250000.00
ALCAZAR ENERGY PARTNERS 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/35909/gaia-equity
Development Results
Development Result Description
Indicator
Organizational capacity and Management Programs(%)
Organizational capacity and Management Programs(%)
-The Project will increase power generation to meet growing power needs in the Middle East, Turkey and Africa. -The Project will deliver climate change benefits and promote increased private sector participation in the Renewable Energy sector. -The Project will help generate direct and indirect employment through projects developed by Gaia.
-The Project will increase power generation to meet growing power needs in the Middle East, Turkey and Africa. -The Project will deliver climate change benefits and promote increased private sector participation in the Renewable Energy sector. -The Project will help generate direct and indirect employment through projects developed by Gaia.
Indicator
Human Resources Policies and Procedures(%)
Human Resources Policies and Procedures(%)
-The Project will increase power generation to meet growing power needs in the Middle East, Turkey and Africa. -The Project will deliver climate change benefits and promote increased private sector participation in the Renewable Energy sector. -The Project will help generate direct and indirect employment through projects developed by Gaia.
-The Project will increase power generation to meet growing power needs in the Middle East, Turkey and Africa. -The Project will deliver climate change benefits and promote increased private sector participation in the Renewable Energy sector. -The Project will help generate direct and indirect employment through projects developed by Gaia.
Indicator
Direct Employment (#) - Operations and Maintenance
Employment (#)
-The Project will increase power generation to meet growing power needs in the Middle East, Turkey and Africa. -The Project will deliver climate change benefits and promote increased private sector participation in the Renewable Energy sector. -The Project will help generate direct and indirect employment through projects developed by Gaia.
-The Project will increase power generation to meet growing power needs in the Middle East, Turkey and Africa. -The Project will deliver climate change benefits and promote increased private sector participation in the Renewable Energy sector. -The Project will help generate direct and indirect employment through projects developed by Gaia.
Indicator
Female Direct Employment (#) - Operations and Maintenance
Female Employment (#)
-The Project will increase power generation to meet growing power needs in the Middle East, Turkey and Africa. -The Project will deliver climate change benefits and promote increased private sector participation in the Renewable Energy sector. -The Project will help generate direct and indirect employment through projects developed by Gaia.
-The Project will increase power generation to meet growing power needs in the Middle East, Turkey and Africa. -The Project will deliver climate change benefits and promote increased private sector participation in the Renewable Energy sector. -The Project will help generate direct and indirect employment through projects developed by Gaia.
XM-DAC-903-SII-36976
International Finance Corporation
ESIP Souq Project
Souq Group Ltd. (BVI) (Souq, or the Company) is the largest e-commerce site in the Middle East, featuring more than 600,000 products across 21 categories in consumer electronics, fashion (apparel and accessories), personal care, and home improvement. The proposed IFC investment is to support the Company in its plans to expand its expansion in existing and new markets, including emerging markets (the Project).
1. Job creation: ouq''s expansion plan is expected to generate over 1,700 direct high-skilled jobs in the areas of logistics, IT services, and marketing over the next five years. The indirect job creation impact is also significant through supply chains benefiting local SMEs and suppliers of goods and services. 2. Supply chain development: The Company''s plans include the development of its logistics and marketplace platform, which would expand the Company''s reach into a wider number of local suppliers. 3. Benefit to consumers: Souq provides consumers with more choices, lower-priced quality goods convenience.
SOUQ.COM FZ-LLC
Mr. Asif Keshodia Chief Financial Officer, Souq Group Ltd. (BVI) Dubai Internet City Thuraya Tower 2 19th Floor, Office 1902 P.O. Box 500255 Dubai, UAE Tel: +971-4-365-4297 Fax: +971-4-427-8157 Email: mailto:asif@souq.com Website: http://www.souq.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Dubai Internet City Thuraya Tower 2 19th Floor, Office 1902 P.O. Box 500255 Dubai, UAE Website: http://www.souq.com
Middle East Region
Based in Dubai, Souq has operations in Egypt, Saudi Arabia, United Arab Emirates and Kuwait. As part of the Project, it will also expand its operations into other emerging markets.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
Q-BA - Retail (Including Supermarkets, Grocery Stores, etc.)
Total: $30.00 million
30000000.00
30000000.00
SOUQ.COM FZ-LLC
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/36976/esip-souq-project
XM-DAC-903-SII-37441
International Finance Corporation
GC Credit II
The project consists of a US$25 million equity investment, not to exceed 20% of total commitments, in GC Credit Opportunities Fund II, L.P (the Fund). The Fund succeeds Gulf Capital Credit Opportunities Fund I, L.P. (Fund I) where IFC invested US$20 million in 2013 (project #32640). The Fund, sponsored by Gulf Capital Pvt. JSC (Gulf Capital), has a target size of US$250 million. First close has been achieved in Dec 2015. The Fund focuses on a diversified portfolio of debt instruments including, but not limited to, mezzanine instruments, preferred equity securities, high yield debt securities, convertible and other similar income producing securities and obligations in the Middle East and North Africa (MENA) region with a majority of the Investments expected to be made, directly or indirectly, in companies in the Levant, Turkey and Egypt, as well as in the Gulf Cooperation Council countries of Bahrain, Kuwait, Oman, Qatar, the Kingdom of Saudi Arabia and the United Arab Emirates. The Fund may also invest up to 30% of total commitments in companies that are headquartered, operate principally, or founded in Sub-Saharan Africa.
- The Fund focuses on growth midcaps and SMEs, which lack access to financing especially growth capital. Only 20% of MENA SMEs have access to credit, one of the lowest in the World; - Credit and mezzanine funds in the region will provide additional and complementary sources of financing to the financial markets which are currently dominated by traditional commercial banks; - Focus on midcap and SMEs fosters job creation in a region where youth unemployment rate is at 24%; higher than any other region;
GC CREDIT OPPORTUNITIES FUND II, LP
For inquiries and comments about the project contact: Walid Cherif Managing Director & Head Gulf Capital Credit Partners T. +971 4 436 6801 | M. +971 50 854 9745 Al Fattan Currency House Office 2802, Level 28, Tower 2 Dubai International Financial Center
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will make investments in debt or quasi-equity instruments in respect of companies based in the MENA region and in Turkey and sub-Saharan Africa. The expected breakdown of the portfolio is 20% in Turkey, 50% in MENA region (including GCC countries), and up to 30% in Sub-Saharan Africa.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BD - Mezzanine Fund
Total: $25.00 million
25000000.00
25000000.00
GC CREDIT OPPORTUNITIES FUND II, 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/37441/gc-credit-ii
XM-DAC-903-SII-40098
International Finance Corporation
BECO Booster Fund II, L.P.
BECO Booster Fund II, L.P. (BECO or the Fund), is a venture capital fund dedicated to investing in early stage technology companies originating primarily in GCC Countries, Egypt, Lebanon and Jordan and opportunistically in the other countries in the Middle East Region. BECO intends to invest in digital businesses that are contributing to the shift from offline to online. The Fund particularly focuses on: i) Marketplaces ii) Tech Infrastructure iii) Software-as-a-Service (SaaS): and iv) Local Content. It also looks at general tech enabled businesses opportunistically.
i. Support for SMEs: IFC experience has shown that small to midcap companies can achieve higher job creation rates than large cap companies. IFC would support job creation in the MENA region as the Fund's strategy, of investing in early stage companies with the potential to become high growth and high impact companies, is in line with IFC's development impact strategy.
ii. Access to long term early stage venture capital is limited in MENA. The gap is currently filled with a fragmented network of angel investors (mostly friends and family) who have limited capacity for follow on investments, limited management skills and a smaller network with which to support the investee companies' growth. These investors also have a shorter term investment horizon and IFC would create tremendous impact in the tech ecosystem through its longer term patient investment horizon.
iii. Support of local entrepreneurship / innovation in high growth technology sectors.
iv. Private sector development: The ability of the Fund to identify best practices and superior management skills in its invested companies and subsequently disseminate them across the portfolio through an institutionalized, scalable manner, may lead to increased competitiveness and sustainability.
v. Foster job creation and economic growth, specifically:
- contribution to GDP growth;
- contribution to job growth in both blue and white collar sectors, including creation of female jobs and workplace optionality; and
- providing consumers access to products and services in a far more efficient manner, saving both time and money.
BECO HOLDINGS LTD
BECO Capital Dany Farha CEO & Managing Partner +971 4 368 7811 dany.farha@becocapital.com Dubai, UAEP.O. Box 333357 http://becocapital.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
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BECO will be operating out of Dubai, UAE. The investment and value creation team will spend extensive time in all key geographic locations with a focus on Saudi Arabia and Egypt.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BB - Venture Capital Fund
Total: $10.00 million
10000000.00
10000000.00
BECO HOLDINGS 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 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/40098/beco-booster-fund-ii-l-p
XM-DAC-903-SII-40142
International Finance Corporation
Mediterrania III
The proposed project consists of an equity investment of up to Eur 15 million in the Mediterrania
Capital Partners III, L.P. (MC III or the Fund), a 10-year closed-end generalist private equity fund
domiciled in Mauritius and managed by Mediterrania Capital Partners (MCP or the Fund Manager). The Fund is targeting Eur 250 million in commitments, and will invest in mid-market companies in North and West Africa. The Fund is expected to make 8 to 12 investments with ticket sizes ranging between Eur 10 and Eur 30 million.
(i) Support job creation: The Fund is targeting mid-cap companies, key drivers of emerging market job creation;
(ii) Access to finance: improving access to long-term equity capital for SME and mid-market companies in North and West Africa;
(iii) Corporate Governance & ESG: MCP has proven record of improving corporate governance and ESG of investee companies through hands-on approach and operational support.
MEDITERRANIA CAPITAL III (SICAV) PLC
Mediterrania Capital Partners Albert Alsina Managing Partner +356.99.37.0880 aalsina@mcapitalp.com Valetta VLT1213Malta www.mcapitalp.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will make private equity investments in North and West Africa.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BA - Growth Equity Fund
Total: $17.45 million
17450000.00
17450000.00
MEDITERRANIA CAPITAL III (SICAV) 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/40142/mediterrania-iii
Development Results
Development Result Description
Indicator
CORE - E and S Management Systems (Y/N)
Compliance/Enhancement
(i) Support job creation: The Fund is targeting mid-cap companies, key drivers of emerging market job creation;
(ii) Access to finance: improving access to long-term equity capital for SME and mid-market companies in North and West Africa;
(iii) Corporate Governance & ESG: MCP has proven record of improving corporate governance and ESG of investee companies through hands-on approach and operational support.
(i) Support job creation: The Fund is targeting mid-cap companies, key drivers of emerging market job creation;
(ii) Access to finance: improving access to long-term equity capital for SME and mid-market companies in North and West Africa;
(iii) Corporate Governance & ESG: MCP has proven record of improving corporate governance and ESG of investee companies through hands-on approach and operational support.
XM-DAC-903-SII-40172
International Finance Corporation
Maghreb Private Equity Fund IV LLC
The proposed project consists of an equity investment of up to EUR15 million in Maghreb Private Equity Fund IV LLC (MPEF IV or the Fund), a closed-end private equity fund organized as a Mauritius limited liability company with a target size of EUR200 million. The Fund will have a generalist sector strategy and will invest in small and mid-market growth capital transactions primarily in Tunis, Morocco, Algeria and Egypt.
(i) Access to finance: Improving access to much needed long-term equity capital for SME and mid-market companies in North Africa.
(ii) Financial inclusion and sustainability: The Fund will provide access to employment opportunities for individuals and access to cross-border markets for enterprises. The Fund will play an active role in strengthening governance and transparency of the investee companies. Through its hands-on involvement, operating efficiencies of the portfolio companies will be improved, thus promoting growth, sustainability and regional integration.
MAGHREB PRIVATE EQUITY FUND IV LLC
AfricInvest Anny Wyman Public relations +216 71 189 800 ann.wyman@africinvest.com Immeuble Integra, Centre Urbain Nord, Tunis 1082 TUNISIA www.africinvest.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will predominantly make investments in Tunisia, Morocco, Algeria and Egypt
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BA - Growth Equity Fund
Total: $17.45 million
17450000.00
17450000.00
MAGHREB PRIVATE EQUITY FUND IV LLC
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/40172/maghreb-private-equity-fund-iv-llc
XM-DAC-903-SII-40414
International Finance Corporation
BECO Holdings Ltd.
BECO Holdings Ltd. (BECO Fund I or BECO Holdings) was established in 2014 and is a holding company investing in early stage technology companies originating primarily in the MENA region (predominantly GCC Countries, Egypt, Lebanon and Jordan). BECO is seeking a capital increase primarily for further growth and follow-on investments in existing portfolio companies.
i. Support for SMEs: BECO Holdings has supported, mentored, and grown 12 companies so far. Additional funding will help these companies continue to foster job creation and grow into regional and global brands.
ii. Access to long term early stage venture capital is limited in MENA. The gap is currently filled with a fragmented network of angel investors (mostly friends and family) who have limited capacity for follow on investments, limited management skills and a smaller network with which to support the investee companies' growth. These investors also have a shorter term investment horizon and IFC would create tremendous impact in the tech ecosystem through its longer term patient investment horizon.
iii. Support of local entrepreneurship / innovation in high growth technology sectors.
BECO HOLDINGS LTD
BECO Capital Dany Farha CEO & Managing Partner +971 4 368 7811 dany.farha@becocapital.com Dubai, UAEP.O. Box 333357 http://becocapital.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
BECO operates out of Dubai, UAE but has invested in companies both domiciled and operating within the broader MENA region.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BB - Venture Capital Fund
Total: $5.00 million
5000000.00
5000000.00
BECO HOLDINGS 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 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/40414/beco-holdings-ltd
XM-DAC-903-SII-38071
International Finance Corporation
DARP - OB Project
The project consists of establishing (i) a regional DARP Investment Vehicle for mobilizing private sector
capital to acquire and manage an economic interest in pools of non-performing loans (NPLs) across several
markets in Europe, Middle East & North Africa (EMENA) and (ii) a regional NPL servicer to service the
acquired NPLs (the Project). For this purpose, IFC shall be co-investing with affiliates of Omni Bridgeway
Holding B.V. (OB Group) in both the Investment Vehicle and the regional NPL servicer.
IFC expects to have the following project and market level impacts from this Project.
- Positive impact on financial institutions: Through this project, IFC anticipates to support the development of NPL or distressed assets market across the EMENA region with the aim to allow NPL sellers to dispose of their NPL portfolio, improve their liquidity and allow them to originate new loans.
- Enhance access to finance: The project will improve the financial standing of the ultimate borrowers, specifically SMEs to â??normalize' their obligations with their lenders i.e. NPL sellers (financial institutions and/banks) and allow them to re-enter the financial system.
- Promote best practice distressed asset resolution: The Project aims to encourage adoption of international insolvency standards, with the support of the OB Group in conjunction with their use of legal, ethical and consensual recovery techniques.
- Boost market competitiveness: Implementation of this Project is expected to develop the EMENA NPL / distressed asset resolution market by encouraging more NPL sellers, buyers and servicers to enter this space; which in turn will promote the overall competitiveness of this asset class across the region. Furthermore, it will help stimulate market wide adoption of specialized processes and best practice by servicers for distressed asset resolution in the regional.
OMNI BRIDGEWAY MENA SERVICER
Omni Bridgeway Group Mr. Raymond Van Hulst Managing Director & Partner +41228186301 vanHulst@omnibridgeway.com Schiphol Boulevard 121, 1118 BG, Schiphol, Amsterdam, The Netherlands www.omnibridgeway.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
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The Investment Vehicle shall be established in the Netherlands; with the regional NPL servicer to be set up in the United Arab Emirates.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
O-FC - Distressed Assets Servicer
Total: $50.40 million
30000000.00
20400000.00
30000000.00
OMNI BRIDGEWAY MENA SERVICER
20400000.00
OMNI BRIDGEWAY MENA SERVICER
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/38071/darp-ob-project
XM-DAC-903-SII-39631
International Finance Corporation
EIP Levant Fund SICAV
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The proposed project consists of an equity investment of up to US$7.5 million in EIP Levant Fund (the Fund), a closed-end private equity fund, domiciled in Malta, seeking to raise US$50 million to make equity/quasi equity investments in 8-10 companies in Levant region and Egypt. The Fund will have a generalist approach with a primary focus on healthcare, education, consumer-driven sectors and export-oriented businesses.
The Fund is expected to have a significant development impact by:
(i) Providing growth capital to SMEs invested in FCS countries;
(ii) Value addition through capacity building in operational, marketing and financial aspects of SMEs;
(iii) Stimulating job creation and economic growth by supporting fast-growing SMEs;
(iv) Implementing best practice environmental, social and corporate governance standards at both the Fund and investee levels.
EIP LEVANT (SICAV) PLC
Emerging Investment Partners +96101998598 info@eip-capital.com Abdul Razzak Building 2nd floor, Abdul Hamid Karami St., Bab Idriss, Riad El Solh, Beirut, Lebanon http://eip-capital.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
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The Fund will invest in the Levant region, namely Lebanon (up to 50%), Jordan (up to 20%), Iraq (up to 10%) and Palestine/Egypt (up to 20%).
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-GD - Small Business Fund
Total: $250.00 million
250000000.00
250000000.00
EIP LEVANT (SICAV) 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/39631/eip-levant-fund-sicav
XM-DAC-903-SII-39802
International Finance Corporation
Yellow Door
0 0 0 0 0 0 0 0 0.0000 Yellow Door Energy (YDE or the Company) is involved in the provision of rooftop and ground-mounted distributed solar power and energy efficiency solutions to commercial and industrial (C&I) consumers in Jordan and UAE. The Company has established a leading market presence in UAE and Jordan, where it has successfully developed, rooftop solar, ground-mounted solar and energy efficiency (ESCO) projects for C&I customers. The Company has a portfolio of projects under development with major clients in UAE and Jordan, and is actively exploring opportunities to invest in similar projects in growth markets in the Middle East, Africa and South Asia regions. The Company is seeking equity funding from IFC and a group of other investors to implement these projects and execute its pipeline.
- Stakeholders impacts - The project will enhance affordability and serve towards ensuring cost efficiency for off-takers by introducing distributed generation systems.
- Environmental impact - The project will contribute to reduction of GHG emissions
- Enhancing Resilience - The project will contribute to increased resilience in the power market, especially in Jordan and growth market areas, where power generation is heavily dependent on fossil fuel.
- Enhancing competitiveness: The Project will help demonstrate the viability of distributed renewable energy generation as a disruptive technology in growth markets
YELLOW DOOR ENERGY LIMITED
Yellow Door Energy Jeremy Crane CEO +971 4 454 3033 contact@yellowdoorenergy.com Suite 2106 Jumeirah Business Centre 1 / Jumeirah Lakes Towers, Cluster G / Dubai, UAE www.yellowdoorenergy.com
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 Suite 2106 Jumeirah Business Centre 1 / Jumeirah Lakes Towers, Cluster G / Dubai, UAE
Middle East Region
0 0 0 0 0 0 0 0 0.0000 The proceeds of the IFC investment will be used to fund the construction of green field rooftop and ground-mounted distributed solar projects across Jordan, UAE and other markets being developed by YDE in the Middle East, Africa and South Asia .
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
V-BF - Solar - Renewable Energy Generation
Total: $5.00 million
5000000.00
5000000.00
YELLOW DOOR ENERGY LIMITED
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/39802/yellow-door
XM-DAC-903-SII-42285
International Finance Corporation
Humania Project
The project is to incorporate a holding company, Humania, that will focus on developing a network of high-quality multispecialty hospitals and healthcare assets in emerging markets, mainly North Africa and Pakistan (the Project or HoldCo). Humania will be established by Bait Al Batterjee Medical Co (BAB Group), an existing IFC client, and will initially focus on four projects (total of 641 beds): acquisition of one operating hospital from BAB Group in Egypt; two greenfield projects in Egypt; and one greenfield project in Morocco. BAB Group will provide a turnkey development solution and operational support to Humania and all assets will be operated under the Saudi German Hospital banner.
The project-level impact will come through: delivering high-quality care to patients; creating new career opportunities for medical professionals; and increasing the depth and quality of local medical professionals through improved training and experience. Humania's contribution to market creation will largely be centred around: 1) increasing competitiveness through being one of the first scalable, private players; 2) demonstrating a new staffing model that increases quality and lowers costs; 3) increasing resilience and sustainability of the health system through developing local medical professionals; and 4) increasing coordination within the healthcare system through SGH specialty clinics (Cairo).
HUMANIA NORTH AFRICA HOLDING LTD
Humania Ahmed El Bakry CEO +202 27369471 md.africa@humaniacap.com 11th floor, 3 Abu El Feda st. Zamalek, 11211 Cairo P. O. Box 41766 00100 NA
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 Disclosed above.
Middle East Region
Humanias projects will be located in: (i) Cairo, Egypt; (ii) Alexandria, Egypt; and (iii) Zenata, Morocco.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
S-AB - Medical and Diagnostic Services
Total: $80.00 million
35000000.00
45000000.00
35000000.00
HUMANIA NORTH AFRICA HOLDING LTD
45000000.00
HUMANIA NORTH AFRICA HOLDING LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/42285/humania-project
XM-DAC-903-SII-42516
International Finance Corporation
Trukker Project
IFC is considering an equity investment of upto US$ 3 million in TruKKer Holding Limited (TruKKer). TruKKer is a long-haul e-logistics B2B platform utilizing an Uber for trucks model to develop a marketplace matching cargo owners with long-haul freight needs and truck drivers who are able to service them, both domestically and cross-border. Through its internally-developed digital platform, TruKKer is disrupting the transportation and logistics market in the Middle East offering a strong value proposition to key stakeholders in the sector including cargo owners, transporters (and drivers) and cargo recipients. TruKKer optimally matches demand and supply of trucks, providing predictability, reliability, price transparency, and increased utilization of otherwise idle assets in the highly fragmented trucking market.
This Project will result in positive outcomes for the relevant parties in the logistics sector in Middle East (cargo owners and truck owners/drivers) and the market at large.
Benefits for stakeholders include reduced costs and better quality logistics services for customers and increased income and ancillary services for truck drivers. Furthermore, TruKKer is expected to increase competitiveness of the logistics sector through demonstration channels. TruKKer will bring innovation into the logistics market by disrupting traditional incumbents and intermediaries, which will result in increased price transparency and efficiency at market level.
TRUKKER HOLDING LIMITED
TruKKer Holding Limited Gaurav Biswas Chief Executive Officer +971-600-524642 Gaurav.biswas@trukker.com One Lake Plaza, Jumeirah Lake Tower, Dubai, Office 204 www.trukker.com
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 Please contact TruKKer CEO, contact details above.
Middle East Region
MENA
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
E-BD - Other Support Activities for Transportation (Grain Terminals, Cargo Terminals, Airport Operations)
Total: $3.00 million
3000000.00
3000000.00
TRUKKER HOLDING LIMITED
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/42516/trukker-project
XM-DAC-903-SII-43315
International Finance Corporation
SPE AIF I, LP
IFC proposes an equity investment of up to US$20 million into SPE AIF I L.P (the Fund), alongside a US$20 million co-investment envelope. The Fund is targeting US$200 million of commitments to pursue growth capital investments in small to mid-cap companies in North Africa.
Project-level outcomes are: (i) improved access to capital, for mid-cap companies in North Africa (primarily Morocco, Tunisia, and Egypt); (ii) increased investee growth through the Fund's value creation strategies. The main market-creation outcomes are: increased competitiveness and integration in the North Africa private equity market.
SPE AIF I, LP
SPE Capital Partners Nabil Triki Managing Partner +21670018451 ntriki@spe-capital.com Immeuble Lira, Avenue de la bourse, Les jardins du Lac 1053 Tunis, Tunisia http://www.spe-capital.com
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 NA
Middle East Region
The Funds investment activities will take place in Morocco, Tunisia, Egypt and opportunistically in Sub-Saharan Africa.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BA - Growth Equity Fund
Total: $40.00 million
40000000.00
40000000.00
SPE AIF I, 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/43315/spe-aif-i-lp
XM-DAC-903-SII-44777
International Finance Corporation
Amethis MENA Fund II S.C.A. SICAV-RAIF
The proposed equity investment is for up to 12.5 million, capped at 20% of total commitments, in Amethis MENA Fund II (the Fund or Amethis MENA II), a closed-end private equity (PE) fund to be domiciled in Luxembourg. The Fund seeks to make equity investments of between 5-15 million per company in around 15 high growth small and medium enterprises (SME) in the Middle East and North Africa (MENA). The Fund will focus on consumer, healthcare, education, business services, manufacturing and technology sectors
Project Outcomes: The main project-level outcome is an increase in access to private equity capital and value creation for SMEs in the MENA region.
Market Creation: The main contribution to market creation is expected to come from increasing the competitiveness of the PE market in MENA. The success of this Fund Manager can demonstrate the viability of PE in the region.
AMETHIS MENA FUND II S.C.A., SICAV-RAIF
Amethis MENA II General Partner Sàrl Laurent Demey & Aurélie Pujo Managers +352 20 60 04 57 laurent.demey@amethis.com 4, rue Robert Stumper, L-2557 Luxembourg www.amethis.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
Amethis MENA Fund II is registered under the laws of Luxembourg. The Funds investments will primarily be in Morocco and Egypt and selectively in other countries in MENA.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-BA - Growth Equity Fund
Total: $15.10 million
15100000.00
15100000.00
AMETHIS MENA FUND II S.C.A., SICAV-RAIF
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/44777/amethis-mena-fund-ii-s-c-a-sicavraif
XM-DAC-903-SII-41954
International Finance Corporation
Averda Corporate Finance
Averda Holdings International Limited (?Averda or the ?Company?) is a leading waste management company based in the United Arab Emirates, servicing public and private sector customers across the GCC region and emerging markets in Africa and Asia, including Morocco, South Africa, Republic of Congo, and India.
The investment is expected to (i) increase environmentally-sound waste treatment capacity in the target countries with focus on plastic recycling and help reduce the amount of waste sent to landfills; ii) increase material recovery and help prevent pollution through production of plastic pellets via mechanical recycling of plastics waste, displacing the production of the virgin materials and reducing GHG emissions; iii) contribute to market competitiveness by supporting private investment in the waste sector and demonstrating the role of plastic recycling plants in Oman, South Africa, and Morocco waste management systems.
AVERDA HOLDINGS INTERNATIONAL LIMITED
Averda Holdings International Limited Mr. Arvind Giri Group Treasurer +971564039446 Arvind.giri@averda.com 2nd Floor Injaz Building, Abdullah Omran Taryam St., Dubai Knowledge Park (Village), Dubai, United Arab Emirate https://www.averda.com/
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 Mr. Arvind Giri 2nd Floor Injaz Building, Abdullah Omran Taryam St., Dubai Knowledge Park (Village), Dubai, United Arab Emirate T elephone: +971564039446 Email: Arvind.giri@averda.com
Middle East Region
Waste recycling projects proposed to be financed by IFC are located in Oman, Morocco and South Africa and use of proceeds for general corporate purpose will cover existing operations in the GCC region, Morocco, South Africa and the Republic of Congo.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
other
Total: $30.00 million
30000000.00
30000000.00
AVERDA HOLDINGS INTERNATIONAL LIMITED
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/41954/averda-corporate-finance
XM-DAC-903-SII-46314
International Finance Corporation
Alcazar Energy Partners II SCSP
The proposed project involves up to US$40 million of equity in Alcazar Energy Partners II ('AEP II'), a closed end infrastructure fund with a target size of US$500m. AEP II will invest in a diversified portfolio of renewable energy ('RE') projects across selected emerging markets with a primary focus on onshore wind, solar PV and storage in MENA, Eastern Europe and Central Asia.
The main project-level effect is on stakeholders through the increased affordability of renewable energy capacity in the target markets as well as the associated environmental effects through decarbonizing power generation and displacing aging baseload. Beyond the project, the investment is expected to help enhance the power sector resilience through diversifying the energy mix in the target markets.
ALCAZAR ENERGY PARTNERS II SCSP
Alcazar Energy Management Services
Suite, 2308, South Tower, Emirates Financial Towers
DIFC, Dubai
United Arab Emirates
PO BOX 415654
Contact: Mr. Daniel Calderon ( dcalderon@alcazarenergy.com )
Tel: +971 (0) 4 422 9606
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will make investments across various countries in MENA, Eastern Europe and Central Asia.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
P-GE - Infrastructure Fund
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/46314/alcazar-energy-partners-ii-scsp
XM-DAC-903-SPI-10880
International Finance Corporation
Emerging Markets Credit Insurance Corp.
The proposed project would create a holding company, Gerling Emerging Markets Credit Insurance S.A., f or the exclusive purpose of making investments in credit insurance companies (and related businesses) in emerging markets countries, through the establishment of new entities and acquisition of existing credit insurance companies. T he sponsor of the project, GCIG sees a significant role for IFC as a partner in the proposed venture. At the level of the holding company, IFC will bring long-standing experience as an investor in the financial sector of emerging markets through representation on the company''s board. GCIG also values the local market knowledge and contacts of IFC staff in specific countries, and in some circumstances IFC will co-invest with the holding company and have direct representation on the investee company''s board. Credit insurance is a new or under-developed product in most markets where the holding company will be investing. Often the legal/regulatory framework will present impediments to the establishment of a sound, competitive credit insurance industry (e.g. limitations on insurance companies'' credit risk cover activities, insufficient legal infrastructure to permit efficient debt collection efforts, etc.). IFC will help local insurance regulators and other authorities to address these impediments. The project should have a strong development impact. Credit insurance, and other information-intensive products and services such as credit scoring and credit bureaus, encourage financial institutions to move "down-market" profitably by lowering unit transaction costs, strengthening risk management, and improving their ability to tailor services for specific market segments, especially SMEs. The project enables IFC to help authorities of member countries create appropriate legal and regulatory framework for undertaking credit insurance, which would often benefit not only credit insurance per se, but banking and financial services in general. The project is complementary to other IFC Financial Markets efforts to strengthen the credit infrastructure of emerging markets, including the e-finance initiative. In addition, use of credit insurance by emerging markets firms that face cash/liquidity constraints will reduce trade risk associated with their balance sheets, making them more easily financeable. Credit insurance will increase financing options for emerging markets companies because it is a viable alternative to factoring, forfaiting, and letters of credit/bank guarantees, in order to manage trade risks. Credit insurance has advantages over factoring and forfaiting in that long-standing producer-customer relationships are maintained. Credit insurance also can have advantages over Letters of credit/bank guarantees, which impose costs on and may reduce the financial flexibility of buyers. Promotion of other products and services that are "embedded" in basic credit insurance cover - but that are often not well developed as stand-alone offerings in emerging markets (e.g. account receivables servicing/management, invoicing, collection management, legal actions or other types of debt collection activities) - is likely to occur if international credit insurers expand their business activities in these countries.
Gerling Credit Insurance Group
KYoshinari@ifc.org, XJordan@ifc.org, DFernando1@ifc.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
GEMCI will be incorporated as a holding company in Luxembourg. This holding company will make investments in credit insurance companies (and related businesses) in emerging market countries, through establishment of new entities and acquisition of existing credit insurance companies.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
FA - Other Non-Depository Credit
Total: $8.82 million
8820000.00
8820000.00
Gerling Credit Insurance Group
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/10880/emerging-markets-credit-insurance-corp
XM-DAC-903-SPI-23623
International Finance Corporation
FIM Bank - Loan
First International Merchant Bank (FIMBank or the bank), based in Malta, is a provider of trade related financial services to clients in emerging markets. FIMBank was established in 1994 and has grown its trade finance operations steadily since inception. FIMBank plans to continue its global expansion by establish factoring/ forfaiting joint ventures in five select markets Argentina, Brazil, UAE, China and Russia over the next 2-3 years (the project). FIMBank has requested IFC to consider:
- a subordinated long term convertible loan in an amount up to ten million United States Dollars to be utilized by the bank to expand its operations by establishing joint-venture factoring and forfaiting companies in IFC member countries; and
- a participation by the bank in IFCs global trade facility for an amount up to $5 million.
Malta is currently a member of IBRD and the IMF but not IFC. In February 2005, the Government of Malta formally notified IFC of its intention to apply for membership. The World Bank Corporate Secretariat in charge of membership has responded to the Maltese authorities with all the supporting documents necessary for IFC membership. IFC will seek Board approval for the project after Malta has become a shareholder of the Corporation.
FIMBANK P.L.C.
Ms. Margrith Lutscgh-Emmenegger, President
First International Merchant Bank
7th Floor
The Plaza Commercial Center
Bisazza Street, Sliema SLM15
Malta
Phone: +(356) 21-322-100 ext.180
Fax: +(356) 21-322-122
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
FIMBank is headquartered in Malta. The factoring JVs will be established in five target markets Argentina, Brazil, Russia, China and Dubai.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BA - Merchant Bank
Total: $10.00 million
10000000.00
0.00
10000000.00
FIMBANK P.L.C.
0.00
FIMBANK P.L.C.
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/23623/fim-bank-loan
XM-DAC-903-SPI-24655
International Finance Corporation
Maghreb Private Equity Fund II
Maghreb Private Equity Fund II Limited (MPEF II or the Fund) is a private equity fund formed by Tuninvest Investment Group S.A. (Tuninvest) and managed by Tuninvest Investments Ltd. (the Manager) with a target size of 80 million which will make equity and equity-related investments in companies located principally in North Africa (the Region), including Morocco, Algeria, Tunisia and Libya. The Fund will seek controlling or significant minority stakes, generally representing individual equity investments between 2 million and 7 million, in a portfolio of commercial and industrial companies. Target industries include agribusiness, consumer products, distribution and retail, financial services, manufacturing, telecom and technology related, and transport.
MAGHREB PRIVATE EQUITY FUND II LP
Mr. Khalid Ben Jilani Tuninvest Investment Group S.A. Senior Investment Officer Address: Immeuble Iris, Les Berges du Lac, 1053 Tunis, Tunisia Telephone Number: + 216 71 862 311 Fax Number: + 216 71 862 805
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will be organized as a Cypriot variable capital international investment company and will have local teams in Casablanca, Morocco, Algiers, Algeria, and Tunis, Tunisia.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $17.57 million
17570000.00
17570000.00
MAGHREB PRIVATE EQUITY FUND II LP
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/24655/maghreb-private-equity-fund-ii
XM-DAC-903-SPI-24660
International Finance Corporation
Rally Energy
Rally Energy Corp. (Rally) is a Calgary-based oil and gas company, with interests in Egypt, Pakistan and Canada. Its operations are primarily focused in Egypt in the Issaran oilfield located in the eastern desert along the western shore of the Gulf of Suez. The company, via its subsidiaries, also has a 22.5% non-operated interest in the Safed Koh concession area in Punjab province, central Pakistan. The Project involves Rallys ongoing exploration, development and production activities in Egypt and Pakistan, including (i) its heavy oil development and production program in the Issaran oilfield in Egypt (100% operating interest) and (ii) development of the Salsabil gas/condensate field and additional exploration within the Safed Koh block in Pakistan (22.5% non operating interest) (the Project). Project investments, via Rallys subsidiaries, will help develop resources in these concessions, apply established technology that can help enhance recovery of in-place oil reserves in Issaran, and explore for additional natural gas reserves in Pakistan.
Rally Energy Corp.
Scimitar Production Egypt Ltd.
34-Dr. Mohamed Mandour St.,
Nasr City, Cairo
Egypt.
Tel: (202) 4015964
Fax: (202) 4019848
Rally Energy Corp.
Suite 2000,
715-5th Avenue. S.W.,
Calgary, Alberta,
Canada T2P 2X6
Tel: (1) 403 538 0000
Fax: (1) 403 538 3705
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
Rallys operations in Egypt are conducted under a petroleum service agreement with Egypts General Petroleum Company and cover a 72 square kilometers area of the Ras Issaran Concession located in the eastern desert on the west shore of the Gulf of Suez, about 250 km south-east of Cairo. The location is fairly remote, with the nearest inhabitations, Zafarana (p. 5,000 approx.) 40 km to the north, and Ras Gharib (p. 50,000-100,000) about 60 km to the South. Rally also has an office in Cairo.
In Pakistan, Rallys non-operated Safed Koh block is also remotely located in the Dera Ghazi Khan administrative district (about 200 km west of the city of Multan), in the Punjab province in central Pakistan. The project operator is Dewan Petroleum Pvt. Ltd, which is headquartered in Islamabad.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AB - Oil and Gas Production (Includes Development)
Total: $25.00 million
25000000.00
0.00
25000000.00
Rally Energy Corp.
0.00
Rally Energy Corp.
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/24660/rally-energy
XM-DAC-903-SPI-24750
International Finance Corporation
Orix SME MENA Program
The proposed project consists of term financing to be provided by IFC to five ORIX Group Non Bank Financial Institutions (NBFIs) operating in the Middle East and North Africa (MENA) region all of whom are either current or previous IFC portfolio clients and have been established with the assistance of IFC. These companies are ORIX Leasing Pakistan Limited (OLP), ORIX Investment Bank Pakistan Limited (OIBPL), Oman ORIX Leasing Company (OOLC), ORIX Leasing Egypt (OLE) and Saudi ORIX Leasing Company (SOLC). The proceeds of the financing will be on-lent by the borrowers predominantly to small and medium-sized enterprises (SMEs) in their respective markets in the form of leases or medium term loans. The proposed aggregate amount of the program is expected to be US$50 million, with a tenor of up to 8 years, including a grace period of up to 2 years.
ORIX LEASING PAKISTAN LIMITED
ORIX Leasing Pakistan Limited
Overseas Investor Chamber of Commerce Building
Talpur Road
Karachi 75000
Pakistan
Note : the above address should be used to contact any of the five companies participating in this project, as ORIX Leasing Pakistan Limited acts as ORIX Corporations regional hub for these companies.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
Project is located in Karachi, Muscat, Riyadh, and Cairo.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
LB - Leasing Services
Total: $50.00 million
50000000.00
50000000.00
ORIX LEASING PAKISTAN LIMITED
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/24750/orix-sme-mena-program
XM-DAC-903-SPI-25043
International Finance Corporation
Metito Project
Metito is a medium-sized regional player specialized in the design, engineering, procurement, contracting, and operations and maintenance solutions for industrial and municipal customers in the rapidly growing water and wastewater treatment industry in the Middle East and North Africa (MENA). In 1999, Metito expanded into the industrial concessions business segment, with a focus on small-to-medium size industrial water and wastewater concessions (Industrial Concessions), serving the tourism industry and mixed-use real estate developments (investment, residential and industrial parks) in the MENA region, and the ports services sector in Indonesia.
Metitos activities in the MENA region help extend water and wastewater treatment services to key income and employment generating sectors in the regions economy, such as the tourism sector in Egypt, and the ports sector in Indonesia. By operating locally, Metito helps provide water-deprived MENA countries with low-cost water and wastewater treatment solutions to help support the economic growth in the region. Metito is also demonstrating the ability of the private sector to operate successfully in the water and sanitation sector in the MENA region, which is crucial to the regions sustainable development.
METITO HOLDINGS LTD
John Wheatley, Group Finance Director
Sharjah, United Arab Emirates
Telephone: +971 6 556 1818
Fax: +971 6 556 5060
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
Metito intends to target Industrial Concessions, with a focus on large tourism and mixed use real estate developments in MENA and expand its activities in the ports sector in Indonesia. Over the next few years, Metito is looking to expand into the utility services business, capitalizing on the privatization potential of public utilities across the MENA region.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BA - Water and Wastewater Utilities
Total: $31.10 million
20000000.00
11100000.00
20000000.00
METITO HOLDINGS LTD
11100000.00
METITO HOLDINGS 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/25043/metito-project
XM-DAC-903-SPI-25292
International Finance Corporation
Ahli United Bank
The project consists of: - a tier 2 eligible convertible subordinated term loan to Ahli United Bank (AUB or the Bank), the third largest commercial bank in Bahrain; and - an equity investment in Delta International Bank of Egypt (DIB) which has recently been acquired by AUB and a consortium of GCC institutional investors. The proposed project is designed to support the Bank''s tier 2 capital base and expansion of its operations through acquisitions of local commercial banks and financial institutions, primarily focusing on developing Middle Eastern countries.
The project supports south-south investments from the more developed and resource surplus countries in the GCC region to the developing middle eastern economies. More specifically, it will support AUBs expansion in Egypt and in new markets in developing countries of the Middle East, where it proposes to acquire and restructure local banks and financial institutions and to develop their operations on a sustainable basis in line with modern banking practices. AUBs expansion and investments in banks in developing middle eastern countries will help to recapitalized the acquired local banks such as DIB, develop their operations on a sound footing, and help to introduce better operational practices and polices. AUBs investment in DIB is expected to facilitate and promote the significant trade, investment, remittances and tourism flows between Egypt and the Middle Eastern countries where AUB and its affiliates operate. AUB is also expected to train staff of DIB and other banks to be acquired and develop appropriate skills which are expected to enable the acquired local banks and DIB to increase lending, reduce non-performing assets and achieve greater operational efficiency. The project is also expected to catalyze an increased flow of funds from markets in the GCC to Egypt and other developing countries in MENA region where AUB plans to expand and would establish institutional linkages between them.
AHLI UNITED BANK B.S.C.
Mr. Adel A. El-Labban, Group Chief Executive Officer and Managing Director Ahli United Bank B.S.C. Building 2495, Road 2832, Al Seef District 428 - P.O. Box 2424, Manama, Kingdom of Bahrain Telephone: (973) 17 585 900/1 Fax: (973) 17 582 311
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
AUB is headquartered in Manama, Kingdom of Bahrain and DIB is headquartered in Cairo, Arab Republic of Egypt.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AA - Commercial Banking - General
Total: $240.00 million
200000000.00
40000000.00
200000000.00
AHLI UNITED BANK B.S.C.
40000000.00
AHLI UNITED BANK B.S.C.
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/25292/ahli-united-bank
XM-DAC-903-SPI-25751
International Finance Corporation
Shefa CEIC Limited
Shefa CEIC Limited (Shefa or the company) is a health sector focused investment holding company targeting the countries of the Middle East and North Africa region (MENA or the Region). The objective of the company is: - to create a regional health care network by acquiring stakes in local providers of health care services and ancillary services who will serve the growing demand for affordable, specialized and private healthcare services in the Region; and - to improve the quality of health care services in the Region in accordance with international best practices. Shefa will be managed by Injazat Capital Limited (Injazat or the Manager).
The Fund is expected to have several development impacts: - Private Sector Development: Shefa will add value to its investee companies by providing managerial and strategic support to improve their competitiveness and sustainability. - Support for SMEs: Shefa is expected to invest in small and medium-sized healthcare providers. - Dissemination of best practices and know-how in delivery of health services: Shefa will support the transfer of technology and know how. - Increased access and standards of quality of health services in the MENA region: Shefa will support increased access and standards of quality of health services in the Region.
TVM HEALTHCARE MENA 1 FUND
Mr. Hussein Rifai, Managing Director Injazat Capital Limited Suite 1 & 2, Level 4, Precinct Building 3, The Gate District Dubai International Finance Centre P.O. Box 506544 Dubai, UAE Telephone: +971 4 3651 500 Fax: +971 4 3637 324 E-mail: hrifai@injazatcapital.com Website: www.injazatcapital.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
Shefa will be incorporated under the laws of DIFC as a closed ended investment company and will be authorized as a private fund under the rules of the DFSA as an investment scheme under the collective investment scheme regulations. The investment team will be located in Dubai, United Arab Emirates.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BC - Private Equity/Venture Cap Fund - Sector
Total: $15.00 million
15000000.00
15000000.00
TVM HEALTHCARE MENA 1 FUND
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/25751/shefa-ceic-limited
XM-DAC-903-SPI-26160
International Finance Corporation
Foursan Capital Partners I
Foursan Capital Partners I (the Fund or FCP), is a private equity fund which will make equity and equity-related investments in enterprises located primarily in Jordan and opportunistically in other countries of the Middle East and North Africa (collectively the Region). The Fund will invest with an objective of maximizing long-term capital appreciation and has a committed capital target size of between $100 million and $150 million. In addition, FCP will have use of the Overseas Private Investment Corporation (OPIC) Facility, a $50 million senior term loan.
- Private sector development: The Fund will add value to its investee companies, by providing managerial and strategic support to improve their competitiveness and sustainability. - Implementation of best practice for corporate governance in portfolio companies: The Fund will adopt international best practices for corporate governance and management, as well as transparency, thus fostering knowledge and skill transfer, and encouraging best practices across the industry. - Growth in employment and labor productivity: The Fund is expected to invest in growth stage companies that will increase employment at a high growth rate. - Support for Small and Medium Enterprises (SMEs): Some of the Funds investee companies are expected to be SMEs at the time of acquisition.
FOURSAN CAPITAL PARTNERS I
Mr. Nashat Masri, Partner The Foursan Group P.O. Box 143154 Amman 11814, Jordan Tel: + 962 6 562 4562 Fax: + 962 6 552 6489 Email: nashat@4san.com Website: www.4san.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund and the Manager will be registered and incorporated in the Cayman Islands. The management team will be based in Amman, Jordan.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $20.00 million
20000000.00
20000000.00
FOURSAN CAPITAL PARTNERS I
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/26160/foursan-capital-partners-i
XM-DAC-903-SPI-26360
International Finance Corporation
Magrabi Eye Hospitals & Centers
The project consists of financing the expansion in Egypt and Yemen of Magrabi Hospitals & Centers (Magrabi or the Group). The company intends to expand its operations by establishing 8 hospitals and 4 centers in different cities in the MENA region.
The expansion of Magrabis services in the MENA region will contribute to: - expanding access to comprehensive ophthalmologic services, which is experiencing high levels of demand and low levels of supply; - relieve some of the growing burden currently placed on the public health system; - offering increased employment opportunities to local healthcare professionals, and other in a superior healthcare environment; - providing a benchmark of service quality that will potentially raise the general standards of ophthalmologic care elsewhere in the region; - expand the supply of qualified nursing professional in Egypt through the Groups recent JV with the British University in Cairo to establish a nursing school; - expanding healthcare human capital in the MENA region by offering summer training programs for lab and medical record specialists, nurses and doctors; and - expanding ophthalmologic care to low-income populations by offering both low-cost services at select hospitals and providing pro bono ophthalmologic services to the extremely low-income populations in rural areas via the Al-Noor foundation.
MAGRABI HOSPITALS AND CENTERS LTD
Mr. Khairy Abdullatif, Senior Vice President, Financial & Legal Jeddah Saudi Arabia Telephone: +966 2 636 9822 Fax: +966 2 637 0987 E-mail: khairy@magrabi.com.sa The environmental documents will be made available at the following locations: - Magrabi Hospital Cairo: El-Sayeda Nafisa Sq, Cairo Egypt - Magrabi Hospital Sana''a: Al Zubairy St., Sana''a Yemen
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
Magrabis existing locations in Saudi Arabia, Dubai, Yemen and Egypt will be expanded and are centrally located in their respective cities. The new hospitals in Yemen and Egypt will be located in urban areas that are easily accessible by public and private transportation.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AA - Hospitals and Clinics
Total: $45.00 million
25000000.00
20000000.00
25000000.00
MAGRABI HOSPITALS AND CENTERS LTD
20000000.00
MAGRABI HOSPITALS AND CENTERS 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/26360/magrabi-eye-hospitals-centers
XM-DAC-903-SPI-26739
International Finance Corporation
SGH II Project
The project entails the expansion of Saudi German Hospitals Group (SGH or the Group), a leading provider of healthcare services in the Middle East and North Africa (MENA) region. The Group commenced operations in 1988, with its first hospital in Jeddah, Saudi Arabia. Currently the Group has a regional network of five hospitals, four training and nursing institutes and one medical college located in Saudi Arabia and Yemen. The Group has developed an ambitious long-term corporate vision: - to design, finance, construct and operate 30 world-class hospitals and create 50,000 jobs by the year 2015 and - to be the dominant regional player in the private medical education by establishing 5 medical colleges by the year 2010. In order to meet these long-term goals, the Group is embarking on a multi-phase expansion plan to enhance its presence in its existing hospitals and move to new markets. The Groups expansion plan includes: - a 150 bed hospital in Hail, Saudi Arabia; - a 300 bed hospital in Cairo, Egypt; - a 315 bed hospital in Dubai, UAE; - a chain of thirty specialty clinics in Cairo; - a 100 150 bed hospital in Addis Ababa, Ethiopia; and - a nursing school in Cairo.
This project has the potential for significant developmental impact through: - Delivery of high quality healthcare services to underserved areas in the target countries: The need for high quality healthcare is acute in Egypt and Ethiopia. SGHs expansion will bring much needed capacity and new services to the MENA and Africa regions. - Increase availability of high quality private medical universities and training school throughout the MENA region: A key health challenge in the MENA and Africa regions is the shortage of skilled medical personnel, in particular nurses due to a lack of training institutions and migration out of the region. In addition to healthcare services, the Group is focused on medical education, training in nursing and allied sciences. - Demonstrate best practices throughout the medical community: SGHs focus on quality in both patient care and management will make it a leaderand thus a point of referencein the MENA and Africa regions. The Group is aiming to achieve JCI accreditation by 2009, and plans ultimately to bring all of its hospitals to this standard. - Increase in Foreign Direct Investments: Such FDIs are extremely important for the countries in increasing the confidence in the local economies and also strengthening south-south cooperation. - Extend public health and education programs: In addition to providing high quality care, SGH has extensive public health and education programs, which are offered free of charge to the community. Activities include community programs in HIV/AIDS, drug abuse, and maternal and child health.
BAIT AL-BATTERJEE MEDICAL CO. LTD
Please direct questions to: Mr. A.R. Mohan, Corporate Office Director Saudi German Hospitals Group P.O. Box 61313 Sharjah, United Arab Emirates Telephone: 971 6 5569900
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The expansion will include Greenfield facilities in the following locations: - 300-bed hospital in Cairo, Egypt; - 30 specialty clinics in various locations around Cairo, Egypt; - 100-150-bed hospital in Addis Ababa, Ethiopia; and - Nursing school in Cairo, Egypt.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AA - Hospitals and Clinics
Total: $55.00 million
25000000.00
30000000.00
25000000.00
BAIT AL-BATTERJEE MEDICAL CO. LTD
30000000.00
BAIT AL-BATTERJEE MEDICAL 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/26739/sgh-ii-project
XM-DAC-903-SPI-26999
International Finance Corporation
Creative Energy Resources
Creative Energy Resources (CER or the company) is a newly formed investment holding company that will acquire, develop, build, own and operate power sector projects (i.e., generation, transmission and distribution), primarily in the Middle East and North Africa (MENA) region, with a secondary focus on opportunities in South Asia and Turkey. Within the MENA region, the company will primarily focus on investments in the non-Gulf Cooperation Council (GCC) countries. CER intends to become a leading power company in the MENA region by building a diversified portfolio of greenfield and existing power assets, including renewable energy assets.
The project is expected to deliver significant development impact in its markets by: - helping meet strong electricity demand growth in the regions where it operates; - promoting the mobilization of much needed private investment in the power sector; - contributing to sustainable economic growth and improved living standards by supporting the provision of additional power and by increasing reliability of supply through the projects it acquires or develops; - assisting in the promotion of long-term capital, as opposed to short-term capital, that is not readily available in the MENA region; - supporting deregulation and sector reforms to encourage private investment in the power sector, particularly in the MENA region; and - helping release public resources for investments in high priority social sectors.
CREATIVE ENERGY RESOURCES
Shahzad Qasim Creative Energy Resources 2411 Grosvenor House Tower Sheikh Zayed Road PO Box 125448 Dubai, UAE Telephone: 971-4-3297919 Website: www.cer-c.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The core scope of the companys activities will be in the non-GCC MENA region, with secondary focus in the South Asia and Turkey power markets. The company may also invest up to 20% of its total committed capital in the GCC countries. CER has already closed its first transaction, taking a 20.14% equity stake in Uch Power Limited, which owns and operates a 586 MW combined cycle, gas-fired power plant in Baluchistan, Pakistan.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
IA - Electric Power Other (Including Holding Companies)
Total: $50.00 million
50000000.00
50000000.00
CREATIVE ENERGY RESOURCES
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/26999/creative-energy-resources
XM-DAC-903-SPI-28068
International Finance Corporation
Kuwait Energy Company KSCC
Kuwait Energy Company KSCC (KEC or the Company), is one of the very few local privately-owned oil and gas exploration and production (E&P) companies in the Middle East and North Africa (MENA). IFC is proposing to provide financing to KEC to: - finance the development of its producing and development assets in Egypt and Yemen; and - accelerate exploration in Egypt and Yemen (the Project). In 2009, KECs work program in Egypt and Yemen includes conducting seismic and drilling 24 wells.
The project will lead to further exploration, appraisal and development of domestic natural resources in Egypt and Yemen. Both countries have seen significant declines in their oil production in recent times, coupled with a fast increase in domestic demand. Both governments are highly dependent on oil and gas revenues to maintain macro-economic stability as well as their social welfare programs. In Egypt, oil production has declined from a peak of nearly 900,000 barrels per day (bpd) in 1997 to around 710,000 bpd in 2007. Given the rapid increase in domestic oil demand, Egypt is expected to become a net oil importer soon. Oil and gas revenues account for 15% of Egypts Gross Domestic Product (GDP) and 46% of Egypts exports. The sector is also the most important source of fiscal revenues for the Government of Egypt (GOE), representing 25% of GOEs budgeted revenues for 2008/9. In Yemen, the poorest country in the MENA region, oil production is declining at an even more rapid rate, with 2008 output averaging just 293,000 bpd, compared to a peak of 457,000 bpd in 2001. Production decline is expected to accelerate over the next few years if no significant new discoveries are made, with current forecasts predicting Yemen will run out of oil in the next 10 to 12 years. Yemens oil and gas sector accounts for over 90% of the countrys export earnings and an estimated 75% of Government of Yemens (GOY) revenue. The Project is expected to produce significant development impacts: - Contribution to Government Revenues: The Project benefits to Egypt and Yemen include revenues that accrue to these governments in the form of production share, royalties and corporate taxes. In 2008, GOEs fiscal take from KECs operations in Egypt was US$58 million and GOYs take was US$19 million. As stated above, both governments are highly dependent on continuing fiscal revenues from the oil and gas sector in order to sustain their respective social programs. The net present value of the total payments to the GOE from 2009 to 2012 is expected to be over US$100 million. Given the exploratory nature of KECs assets in Yemen, future revenues to GOY will depend on the success of the Companys exploration activities in 2009. - Employment and development of local skills: The Project will help sustain employment in both countries. In Egypt, the operating company currently employs approximately 50 full time employees and has 175 contractors. This is expected to rise to nearly 70 personnel and approximately 350 contractors by 2010, of which at least 90% will be Egyptian nationals. Without this Project and the associated development and exploration programs, these jobs would be largely lost. In Yemen, due to the early stage of operations, KEC currently has less than 10 people directly employed and approximately 125 contractors. With the start of significant exploration activity this figure is expected to rise to approximately 15 direct employees and an average of 175 contracted staff by 2010. Approximately 70% of direct personnel in Yemen are expected to be Yemeni nationals. - Supporting the development of local independent E&P sector in MENA: Through this financing, IFC will play an important role in supporting the only sizeable private Kuwaiti E&P player and the only major Kuwaiti company run by a woman. The E&P sector in MENA has traditionally been dominated by large state-owned oil companies or Western oil and gas companies. KEC is one of the first significant attempts by the local private sector to participate in this sector. KECs ability to grow into a company on a par with other mid-size international E&P companies is hoped to encourage other such private sector initiatives. The key development indicators to be monitored during the life of the IFC investment include: (1) Payments accruing to governments; (2) Direct employment levels; (3) Local purchase of goods and services (including contractors); and (4) KEC 2P net reserves.
KUWAIT ENERGY COMPANY KSCC
Roger Phillips Chief Financial Officer Kuwait Energy Company Salem Al Mubarak St. Laila Tower Block 49, Bldg. # 35 8th floor Office 1 Salmiya, Kuwait Tel: +965 575 5878 Fax: +965 575 5679
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
In Egypt, KEC has interests in three onshore producing assets (Area A in Gulf of Suez, and East Ras Qattara and Burg el Arab concessions, both in the Western Desert), one development asset (Abu Sennan in Western Desert) and an early exploration asset (Block 6 in Southern Egypt). In Yemen, KEC has one producing asset (Block 43, onshore, Central Yemen) and interests in six exploration assets, all onshore in Central Yemen with the exception of Block 15 (offshore Al Mukalla in the Gulf of Aden). Block 43 is expected to cease production shortly.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AB - Oil and Gas Production (Includes Development)
Total: $50.00 million
50000000.00
50000000.00
KUWAIT ENERGY COMPANY KSCC
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/28068/kuwait-energy-company-kscc
XM-DAC-903-SPI-28538
International Finance Corporation
Swicorp Intaj Capital L.P.
Swicorp Intaj Capital II (Intaj II or the fund) is a $400 million follow-on fund targeting equity and equity related investments in sectors driven by consumer demand such as consumer goods, retail, media & communications and consumer financial services. The Fund will invest in 12-15 companies and will focus on mid to large cap companies. In terms of geographic coverage, the fund will cover the MENA region including Turkey. The Fund will consist of two English limited partnerships, the Pan-MENA Partnership and the Non-GCC Partnership, together with a corporate feeder vehicle established in Bahrain (Intaj II GCC). The Non-GCC Partnership will allow investors who are not willing or cannot cover GGC countries to invest in a MENA excluding GCC dedicated fund compartment.
The investment will have a strong developmental impact as it will help mobilize needed long term and stable capital for the Fund, which will in turn support the expansion and operations of mid to large cap companies thus promoting south-south investments, employment, growth and best practice standards for corporate governance and E&S in the region.
INTAJ CAPITAL II LP
Mr. Nabil Triki, Managing Director
Swicorp Private Equity
Burj Dubai District, Emaar Square, Building I
P.O. Box 213137
Telephone: +971 4 332 2437
Tax:+971 4 332 2537
E-mail: ntriki@swicorp.com
Website: www.swicorp.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will consist of two English limited partnerships, the Pan-MENA Partnership and the Non-GCC Partnership, together with a corporate feeder vehicle established in Bahrain (Intaj II GCC). The GP will be registered in Gibraltar. The management team will be based in Tunisia, Dubai, Algeria and Saudi Arabia.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $20.00 million
20000000.00
20000000.00
INTAJ CAPITAL II LP
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/28538/swicorp-intaj-capital-l-p
XM-DAC-903-SPI-28573
International Finance Corporation
Argan Infrastructure Fund
The proposal is to make an equity commitment of up to 8 million, not to exceed 20% of total commitments in the Argan Infrastructure Fund, a private equity fund which will make equity and equity-related investments in infrastructure projects located primarily in North Africa and West Africa (collectively, the Region), and opportunistically in other counties of Sub-Sahara Africa. The Fund will be managed by Infra Invest (the Manager), a subsidiary of Argan Invest (Argan), a fund management company based in Casablanca, Morocco.
The Fund is expected to deliver strong development impact as its investments are dedicated to critical infrastructure projects in North Africa and IDA countries in Sub-Sahara Africa.
ARGAN INFRASTRUCTURE FUND, LLC, PCC
Abdellatif NASSERDINE
Infra Invest, Director General
Tél: + 212 522 429 137
Fax: + 212 522 273 815
Email: a.nasserdine@bmcek.co.ma
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will target investments in North Africa and West Africa. The Manager has offices in Casablanca, Morocco, and affiliate relationships with entities in other target countries of the Fund.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $12.03 million
12030000.00
12030000.00
ARGAN INFRASTRUCTURE FUND, LLC, PCC
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/28573/argan-infrastructure-fund
XM-DAC-903-SPI-28705
International Finance Corporation
GAC Project
Gulf Agency Company (GAC or the Company) is a global provider of shipping, logistics, marine and related services. It has a fleet of about 50 vessels (tugs, barges, landing craft, etc.) that support the offshore oil industry and which are active from the west coast of India to the west coast of Africa including the Caspian Sea and Arabian Gulf. The Company is embarking on an expansion program to upgrade its fleet. IFCs financing would be used to cover the costs of acquiring additional vessels, beginning with the purchase of two Anchor Handling Tug Supply (AHTS) vessels which would initially operate on the Caspian. The expansion will help the Company optimize its fleet structure and expand its operations.
While Kazakhstan is considered to have substantial oil (and gas) reserves including offshore, poor infrastructure and a lack of support services has prevented it from taking full advantage of these resources. As a result, the development of such services is essential to the development of the country and would in turn unlock economic growth and job creation. The project would also facilitate the export of oil from countries with excess supply (such as Kazakhstan) to countries with a shortage, allowing both sides to benefit and enhancing the efficiency of the global oil market. By facilitating increased trade linkages between the MENA region and the rest of the world, the project would also provide a demonstration effect to regional players of the rewards available from global integration.
GAC MARINE HOLDINGS LTD
This SPI contains a summary of IFCs review prepared for the project. Additional information can be obtained directly from the following contact:
Mr. William Nisser
Group Treasurer
Gulf Agency Company Ltd.
P.O. Box 18006, JAFZ
Dubai
United Arab Emirates
Phone: +971 4 8811411
william.nisser@gacworld.com
www.gacworld.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
GAC has shipping and logistic operations throughout the world. Its fleet of offshore supply vessels has historically served the following countries/regions: west coast of India, the Arabian Gulf, the Mediterranean, the Caspian and the west coast of Africa including Nigeria. The first vessels being financed by IFCs loan are expected to operate initially in the Kazakh sector of the Caspian. GACs senior management is headquartered in Dubai, UAE.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AC - Water Transportation
Total: $35.00 million
35000000.00
35000000.00
GAC MARINE HOLDINGS 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/28705/gac-project
XM-DAC-903-SPI-28806
International Finance Corporation
TWG1 Project
City Group Company K.S.C. (CGC), a Kuwait-based listed joint stock company with core operations in urban bus transportation, has recently embarked on a regional expansion program. As one of the most successful listed public transportation companies in the MENA region, CGC is in a good position to acquire potentially viable public transportation businesses in the region, recapitalize them and improve their operations to restore profitability. Their move is well timed as traffic congestion in the regions capital cities has reached critical levels. In December 2009, CGC agreed to invest JOD15 million (US$21.3 million) into the Comprehensive Multiple Transportation Company (CMTC), a listed, Jordan-based bus public transportation operator through a capital increase, making it the 1st foreign investor in the Jordanian bus public transportation sector. CMTC was established in 2005 and is the largest public transportation company in the greater Amman area, operating more than 75% of the citys bus routes. The capital increase will be used towards financing a comprehensive capital expenditure program of approximately US$40 million to fund, among other investments, the construction of a new, state-of-the-art central operations hub with modern maintenance facilities and a major fleet renewal and expansion plan. City Group is also pursuing other investment opportunities in the region and is considering an investment in a public transportation company in another Levant market that would enable such a company to improve and expand its operations.
CGCs investment capacity and operating know-how is expected to greatly benefit the investee companies. In the specific case of Jordan, CMTCs fleet renewal and expansion project, funded largely by CGC, is expected to improve Ammans underdeveloped public transportation system. It is also expected to help reduce traffic congestion and user travel time as CMTCs increased presence will not only offer a comfortable alternative to individual or shared car use but also displace, replace and restrict the operations of minibuses. Investments in the public transportation system such as the contemplated investments in Jordan and Lebanon in combination with a transfer of know-how is also expected to lead to higher bus frequencies, a better reliability and the use of more modern buses. The project is also expected to positively affect the direct users of the public transportation system as well as the non-users due to the resulting easing of road congestion. Municipalities are also expected to benefit from lower roadway investment costs. The enhanced service levels are also expected to have a strong impact on the urban poor who traditionally live far away from their place of employment and rely on public transportation.
CITY GROUP CO. K S C
Deepak Juvekar, Group Chief Financial Officer P.O.Box 24611 Safat 13107 Kuwait Tel. +965 2 467 4357 Fax +965 2 467 7945 Email: Deepak@twgkw.com www.twgkw.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The proposed financing is a corporate loan to City Group Company K.S.C., a company registered and headquartered in Kuwait. The companys operations are located in the Sulaibiya Industrial area on the outskirts of Kuwait City.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AD - Transit and Ground Passenger Transporation
Total: $30.00 million
30000000.00
30000000.00
CITY GROUP CO. K S C
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/28806/twg1-project
XM-DAC-903-SPI-28819
International Finance Corporation
Gulftainer Corp
Gulftainer Company Limited (Gulftainer or the Company), a UAE Limited Liability Company founded in 1976, has decided to develop multiple ports and logistics activities in Iraq (the Project). The Company intends to team up and invest alongside various local partners and benefit from the countrys reconstruction efforts as well as the expected transport and logistics needs of the Country. Gulftainer has developed plans to invest into the following ventures in different parts of Iraq: Operation and management of container and cargo terminal / berths awarded to Gulftainer at Umm Qasr Port, located about 70 km south of Basra and owned by the state-owned General Council for the Ports of Iraq. As part of the agreement, Gulftainer is expected to undertake some civil works to upgrade the berth structure and invest in new cargo handling equipment. In partnership with various entities, development and operation of transport and logistics services for the oil and gas industry in Northern Iraq. Services to be provided include on-site and off-site transport, plant hire, storage, warehousing, freight forwarding, crane hire and workshop services. Transport and logistics services throughout Iraq with an initial focus on Northern Iraq. Development and operation of a Cargo Village at Sulaimaniyah airport in partnership with a local partner. The facility is expected to target general cargo such as foodstuff and perishables as well as oil & gas related equipment. In addition, Gulftainer is also exploring additional logistics and transport projects in different parts of the country especially in Southern Iraq in order to address the upcoming growth of the UmmQasr / Basrah / Baghdad transport corridor.
Once regarded as having one of the Middle Easts most comprehensive transportation systems, Iraqs transport and logistics infrastructure has suffered from more than two decades of neglect and underinvestment. Rehabilitation of such infrastructure is a major national and regional trade issue. Gulftainer investments in Umm Qasr Port and Sulaimaniyah airport should help solve this issue and thus contribute to Iraq integration in the regional and global economy. Iraq heavily relies on imports for its consumer goods and for its reconstruction program. Cost effective transport of imported goods is therefore critical to Iraqs economy. World Banks Doing Business indicators however shows that Iraq is facing difficulties in terms of logistics performances. Gulftainers investments to modernize one of Umm Qasr berth combined with its experience to efficiently manage container terminals should contribute to improve the situation. At present, a substantial portion of goods coming into Iraq are off-loaded at ports in the neighboring countries such as Kuwait, Turkey and Jordan and are then transported into the country by road, which tends to increase the time and cost of delivering the goods to the end consumer. The Project will have a significant impact on reducing these impediments to trade in Iraq and foster the countrys reconstruction efforts along with the economic growth and development. Efficient and well-developed transport and logistics infrastructure is an essential component for the expected growth in the countrys Oil & Gas production & export-related activities and the project would play a strong role in facilitating these improvements. In addition to its direct impact on trade, the Project will also contribute towards socio-economic development through the creation of several hundred jobs, reduction in the cost of goods paid by the end consumer (through reduction of costs incurred in the transportation process) as well as substantial royalty payments to the Government of Iraq. Through its involvement in Iraq (Umm Qasr port in particular), Gulftainer will also play a strong role in training and improving the skills of the employees that would be seconded from IMTC, help introduce industry best-practice and contribute its valuable know-how in managing ports and logistics operations, which would help in improving the overall efficiency of the sector.
GULFTAINER COMPANY LIMITED
Andrew Barley Terminal Manager Gulftainer Co. Ltd. Office C/o. South Oasis Co. Ltd. Next to Minawi Basha Hotel Basrah, IRAQ Tel : 00964 (0) 7703227749 Mobile : 00964 (0) 7800253089 (Zain - Iraq) Mobile : 00964 (0) 7704975282 (Asia Cell - Iraq) Mobile : 00971 (0) 504817153 (UAE)
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Project is expected to be located in the northern part of Iraq, i.e. Kurdistan (the areas of Chemchemal and Sulaymaniyah) and in the southern part of Iraq in Umm Qasr, about 70 km south of Basra.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
CA - Storage (Including Agricultural Products)
Total: $45.00 million
45000000.00
45000000.00
GULFTAINER COMPANY LIMITED
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/28819/gulftainer-corp
XM-DAC-903-SPI-29325
International Finance Corporation
Metito II Project
Metito is a company specialized in the design, engineering, procurement, contracting, and operations and maintenance solutions for industrial and municipal customers in the rapidly growing water and wastewater treatment industry, particularly well planted in the Middle East and North Africa (MENA) region. Since 1999, Metito has also expanded into the concessions business segment through Metito Utilities Limited (MUL), with a focus on small-to-medium size industrial water and wastewater concessions, serving the tourism industry and mixed-use real estate developments (investment, residential and industrial parks) in the MENA region, and the ports services sector in Indonesia. In 2008, MUL formed two partnerships with Berlinwasser International (Germany) to i) enter the Chinese market; and ii) develop large size water projects for public sector clients in the MENA region. The Project will enable MUL to strengthen its capital structure so as to fund the development of these two partnerships adequately.
Metito's activities in the MENA region and China help to extend water and wastewater treatment services to key income and employment generating sectors in the region's economy, such as the tourism sector in Egypt, the ports sector in Indonesia and the rapidly growing Chinese market. Metito's focus in the MENA region and China is targeting some of the most water-deprived areas in the world with low-cost water and wastewater treatment solutions to help support economic growth. Metito is also demonstrating the ability of the private sector to operate successfully in the water and sanitation sector in the MENA region and China, which is crucial to sustainable development, and increasing competition in the sector so that other investors might be induced to follow suit.
METITO UTILITIES LIMITED
John Wheatley
Group Finance Director
Telephone Number: +971 4 810 3347
Fax Number: +971 4 810 3300
Address: P.O Box 262335, Dubai, United Arab Emirates
Local Contact for MUL China and Egypt:
China:
Ms. Patsy Li, Chief Financial Officer of Berlinwasser China Holdings Ltd.
Unit No. 832A, 8th Floor, Star House, No 3 Salisbury Road, Kowloon, Hong Kong
Tel: 00852 251 53318
patsy.li@berlinwasser.hk
Egypt:
Mohamed Kareem Nabil Reda Madwar
K22, Alex Desert Road, Giza, Pyramids Heights Office Park, Bldg 7.
Tel: 0020 235 362400
karim.madwar@metito.com.eg
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
MUL is headquartered in Dubai and is currently active throughout the MENA region and more particularly in Egypt. MUL also has small-sized concessions in Indonesia, and owns a majority stake in a company that owns and operates two large wastewater treatment plants in China. Metito intends to continue to target projects mainly in the MENA region and in China.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BA - Water and Wastewater Utilities
Total: $20.00 million
20000000.00
20000000.00
METITO UTILITIES LIMITED
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/29325/metito-ii-project
XM-DAC-903-SPI-29414
International Finance Corporation
Nuqul (MENA)
Headquartered in Amman, Jordan, the Nuqul Group is a leading regional manufacturing group primarily involved in the production of jumbo tissue rolls and their subsequent conversion into paper-based hygienic products such as facial tissues or diapers. The proposed project mainly consists of expanding the Groups conversion capacity in facial tissue, toilet paper, napkins and diapers in Egypt and Jordan. This Project is the continuation of Nuquls expansion efforts across the MENA region and will enable it to cater to the basic hygienic needs of populations in Jordan, Morocco, Egypt, Iraq, Syria, Algeria, Libya, Algeria and Tunisia. Additionally, part of the project funding may be utilized to support investments in energy and water savings as identified in the context of IFCs Advisory Services collaboration with Nuqul.
Improved economic resilience:
The expansion of conversion capacity in the host countries of the project (namely Egypt and Jordan), will help support the local economic environment by decreasing reliance on typically more expensive and volatile imported goods. Additionally, the manufacturing focus of the project will support diversification of the economy in the countries where the new capacity will be established. The project will also enable Nuqul to increase its internal consumption of jumbo tissue rolls and focus its sales on higher-margin finished products, thereby improving its operational performance and resilience.
Spread of world-class business practices:
Over the past years, Nuqul has made significant progress on the path to institutionalization notably in separating ownership and management as well as implementing world-class corporate governance and business practices. The Nuqul Group is a highly respected institution across the MENA Region and the project will enable Nuqul to spread its commendable business practices by expanding the Groups regional reach.
Benefits of regional integration:
The project will facilitate increased trade linkages within the region and serve as an example to other players of the rewards available from global integration.
Improved living standards for the populations:
The project will create sustainable employment opportunities in countries where youth unemployment is a major issue. Domestic and efficient operations will enable the Nuqul Group to bring more affordable quality products in the market, thereby improving the local populations access to products catering to basic human needs.
Demonstration effect:
By providing long term financing in markets where these types of financing are typically not available, IFC sets a long term interest rate benchmark for commercial loans of longer tenors. This may lead to the eventual development of a long term interest rate curve in the local market and enable local lenders to provide these types of financing.
Cleaner production support:
The project will support the Nuqul Groups efforts to move towards cleaner production, thereby contributing to decreasing the Groups environmental footprint.
FINE HYGIENIC HOLDING GROUP LIMITED
Ma'an Karadsheh, Treasury Director,
Tel: +962 6 4652688
Fax: +962 6 4645669
P.O. Box 154 Amman 11118 Jordan
e-mail: mkaradsheh@nuqulgroup.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The project consists in financing the acquisition of new machinery to equip (i) a new conversion plant in an industrial area in 6 October in Egypt, close to Nuquls Egyptian paper mill; (ii) the extension of a conversion plant in the outstrips of Amman; and (iii) potential water and energy efficiency improvements across the Nuqul Groups mills in Egypt and Jordan.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AD - Paper Tissue
Total: $30.00 million
30000000.00
30000000.00
FINE HYGIENIC HOLDING GROUP LIMITED
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/29414/nuqul-mena
XM-DAC-903-SPI-30171
International Finance Corporation
GTLP FIM Bank
The project is to provide FIMBank (or the Bank), with a trade finance facility of up to $60 million to support the Banks trade finance activities in MENA and Sub-Sahara Africa.
The Facility will be funded as part of IFCs Global Trade Liquidity Program (GTLP) which was created as part of IFCs extended commitment to support global trade finance in order to increase the reach to some of the enterprises in emerging markets by addressing the liquidity constraint that they are as well as some of the financial institutions are still facing.
(i) Channeling liquidity for trade financing in the Africa, and MENA regions which is vital to the survival of SMEs in those regions, thereby preserving jobs at such SMEs and the FIs; (ii) strong demonstration effect by catalyzing other IFIs to support trade finance a main artery to economic health and recovery, especially in emerging markets.
FIMBANK P.L.C.
Ms. Margrith Lutschg-Emmenegger
President
FIMBank
The Plaza Commercial Centre, Bisazza Street, Sliema SLM 1640, Malta
Ph: +356 21322100
E-mail: margrith.lutschg@fimbank.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
FIMBank is headquartered in Malta.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
GA - Trade Finance
Total: $15.00 million
15000000.00
15000000.00
FIMBANK P.L.C.
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/30171/gtlp-fim-bank
XM-DAC-903-SPI-30284
International Finance Corporation
MedGulf Project
MedGulf is one of the leading insurance providers and one of the largest privately owned insurance companies in the MENA region. MedGulfs main strategy is focused on further expanding its presence into the less served countries in MENA and Turkey where demand for insurance products is largely unmet. It offers non-life and life insurance services and third party administration of medical insurance claims.
1. Spread awareness about insurance value as a risk insulation to the formation of more businesses and jobs and to the increase of social stability in the MENA countries.
2. Formalize best insurance risk management practices for participants in the MENA insurance market to stimulate more investment opportunities, economic efficiency, stability, and poverty reduction.
3. Develop an economic multiplier effect through channeling insurance premiums into regional economies' investments and capital markets products to support the private sector development in the MENA region.
The Mediterranean and Gulf Insurance and Reinsurance Co BSC (c)
Mr. Mohamad Bachar El Zein
Corporate Vice President Treasury and Finance
P.O.Box 113- 6320
Beirut, Lebanon
Tel: +961-1-985-000
Fax: +961-1-985-006
E-mail: mohamad-elzein@medgulf.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
MedGulf is headquartered in Beirut, Lebanon with branches in Saudi Arabia, Bahrain, Jordan, UAE, Turkey, Egypt, and the UK.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
JC - Composite Insurance (Life and Non-life)
Total: $124.00 million
124000000.00
124000000.00
The Mediterranean and Gulf Insurance and Reinsurance Co BSC (c)
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/30284/medgulf-project
XM-DAC-903-SPI-30467
International Finance Corporation
MPEF III Project
Maghreb Private Equity Fund III (MPEF III or The Fund) is a private equity fund formed by Tuninvest-Africinvest (Tuninvest) and managed by Evolia Limited (the Manager) with a target size of 200 million Euros, which will make equity and equity-related investments in small and medium-sized enterprises (SME) in Tunisia, Morocco, Algeria, Libya and, on an opportunistic basis, Egypt. Target sectors will include agribusiness, packaging, consumer products, distribution and retail, financial services, manufacturing, telecom, and transport.
The proposed Project is expected to have a high development impact as: (i) the Fund will target SMEs with clear growth prospects that can increase job creation, (ii) the Manager will adopt best practices for transparency and corporate governance of its investee companies, thus fostering knowledge and skills transfer, and (iii) the Manager will employ a hands-on value added strategy to help portfolio companies improve operational efficiency and competitiveness.
MAGHREB PRIVATE EQUITY FUND III LLC
Mehdi Gharbi
Maghrebinvest Algeria
Centre El Qods - 5ème étage de la tour centrale - Cheraga -16075 Algiers Algeria
Tel: +213 21 34 12 00 I Fax +213 21 34 12 01
Email: mehdi.gharbi@maghrebinvest.com
Website: www.maghrebinvest.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund will be registered and licensed in Mauritius and will have local teams in Tunisia, Morocco, and Algeria.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $21.71 million
21710000.00
21710000.00
MAGHREB PRIVATE EQUITY FUND III LLC
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/30467/mpef-iii-project
XM-DAC-903-SPI-30853
International Finance Corporation
AWI SME Finance Facility for the Middle East and North Africa
The project consists in the establishment of a regional MENA SME Initiative (MSI or Initiative) to scale up and support SME financing in the MENA region. MSI proposes to offer a comprehensive package to enhance SME access to finance in MENA in a systemic and sustainable manner. It will consist of two core pillars:
(a) A financial intermediation pillar, the MENA SME Facility (SME Facility or the Facility), to enhance SME lending by local banks; and
(b) An advisory pillar, the MENA MSME Technical Assistance Facility (MSME-TAF) to support capacity building in the micro and SME sector. The MSME TAF is a joint initiative between IFC and IBRD and would involve a strong collaboration between IFC, IBRD and other IFI partners.
The SME Facility will involve collaboration between IBRD, IFC, and partner DFIs/IFIs. Donor funding is expected to provide the first loss junior tranche complemented by IBRD contingent loan financing arrangements where governments of the targeted countries decide to allocate IBRD resources to back guarantees or risk sharing arrangements by the IFC-led SME Facility. The initial target countries for the SME Facility are: Jordan, Tunisia, Lebanon, Egypt, and Morocco.
The SME Facility will be organized as a Facility and IFC would be the Facility Agent, helping to establish the SME Facility and to: identify PFI and originate PFI engagements, appraise PFI engagements, and to approve and supervise investments in accordance with IFCs operational/credit standards and processes. The SME Facility is expected to partner with banks and financial institutions engaged in SME lending and financial services in the targeted MENA countries. In addition to risk sharing facilities with banks and financial institutions on a portfolio basis, the SME Facility may also offer term credit facilities to support working capital financing to SMEs and to finance machinery and equipment. The needs and the solutions in respect of SMEs are likely to be diverse among different markets and to change over time and evolve to adapt to country developments and new requirements that may emerge in the target countries changes.
The project is in response to the recent events in the region, which have amplified the importance of fostering broad-based and equitable growth and emphasized that private sector led, job-creating economic growth remains the cornerstone of any growth strategy for countries in the MENA region.
The project is expected to have the following development impact: (i) Improved access to finance for SMEs: SMEs in the MENA region account for 40% of GDP and 70% of employment. With this project, IFC would provide necessary funding and capacity building services to SMEs, including women entrepreneurs, enabling them to grow and expand their business and continue to play a major role in supporting the region's economic growth and job creation; and (ii) Improved financial infrastructure: (a) The risk sharing structure of the SME facility aims to attract private sector investment flows and promote SME finance as a viable asset class. (b) The capacity building initiative would help build the capacity and increase the risk appetite of banks and lenders for the SME sector and enhance SME financing.
AWI SME Finance Facility for the Middle East and North Africa
International Finance Corporation
Khaleel Ahmed - KAhmed@ifc.org
Ghanem Redouane Benamadi GBenamadi@ifc.org
Luke Haggarty LHaggarty@ifc.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
This is a regional initiative for the MENA Region, with operations expected in the following target countries: Jordan, Tunisia, Lebanon, Egypt, and Morocco. Other countries may be targeted later as the Facility and MSME TAF develop.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AH - Commercial Banking - SME Finance
Total: $150.00 million
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/30853/awi-sme-finance-facility-for-the-middle-east-and-north-africa
XM-DAC-903-SPI-31243
International Finance Corporation
MENA- STF Project
The proposed project involves an unfunded risk participation where IFC will provide an unfunded guarantee of up to $100 million for up to 3 years to Wells Fargo Bank on a trade finance portfolio of up to $200 million that issuing banks in emerging markets (EMIBs) originate in Egypt, Tunisia, Algeria, Morocco and Turkey (Targeted Countries). IFC will seek to obtain a counter-guarantee for up to 50% of IFCs exposure from other development/international finance institutions (Program Partners). The proposed project is a direct fit with the IFCs strategic focus to increase the access to finance for local EMIBs in Targeted Countries by risk-sharing in a portfolio of emerging market trade assets with a partner bank active in the MENA region. The proposed investment is a timely response to the political instability in the MENA region at a time when EMIBs and international banks are seeking IFC support to maintain or increase their trade volume in the region.
The development impact is expected to be: (1) Give emerging market issuing banks continued access to trade credit in MENA region and other IDA countries, which were hit hard during the financial crisis and the recent political instability; and (2) Maintain the access to credit for the underlying exporters and importers.
WELLS FARGO BANK, NATIONAL ASSOCIATION
Norman Buchbinder SVP and Senior Lender GFI Portfolio Strategies and Credit OriginationWells Fargo Bank | 40 West 57th Street, 16th Floor | New York, NY 10019 MAC J0151-160 Tel 212-707-6923 | Fax 212-707-6920 Norman.buchbinder@wellsfargo.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
Emerging Markets Issuing Banks are expected to originate trade transactions initially in 5 targeted countries; namely Egypt, Tunisia, Algeria, Morocco and Turkey. Going forward, the project could also extend to cover other IDA countries globally, tentatively Bangladesh, Vietnam, Honduras and likely some sub-Saharan countries. Wells Fargo is headquartered in San Francisco and is present globally.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
GA - Trade Finance
Total: $100.00 million
100000000.00
100000000.00
WELLS FARGO BANK, NATIONAL ASSOCIATION
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/31243/mena-stf-project
XM-DAC-903-SPI-31281
International Finance Corporation
MENA Fund Project
As part of IFCs response to the ongoing challenges in the Middle East and North Africa (MENA) region, IFC is proposing to invest in an, to be established, investment vehicle that will mobilize additional capital for co-investment alongside IFC in the MENA region. The objective of the investment vehicle is to provide the long term risk capital needed to alleviate constraints to economic growth, help restore investor confidence and promote job creation throughout the MENA region.
The project is expected to deliver strong development impact by: (i) mobilizing the additional capital needed to help fill the emerging investment gap caused by the retrenchment of the private sector; (ii) enabling IFC to invest in more projects by leveraging IFC''s economic capital; (iii) promoting the robust, inclusive economic growth needed to improve the lives of people in the MENA region; and (iv) raising awareness and restoring investors'' confidence.
IFC MIDDLE EAST AND NORTH AFRICA FUND, LP
Scott Alexander Mills Investment Officer The Gate - DIFC - West 10th Floor P.O. Box 118071, Dubai, UAE Tel: +971 4 360 1055 Fax: +971 4 360 1010 Cell: +971 50 220 4203 E-mail: smills2@ifc.org Web: www.ifc.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The domicile of the investment vehicle will be determined upon completion of due diligence.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $100.00 million
100000000.00
100000000.00
IFC MIDDLE EAST AND NORTH AFRICA FUND, LP
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/31281/mena-fund-project
XM-DAC-903-SPI-25341
International Finance Corporation
Saudi G Hospital
The project consists of financing the expansion in the MENA region of Saudi German Hospitals Group (SGH or the Group). SGH has been a major participant in the health sector in Saudi Arabia since 1988 and currently owns and operates 5 hospitals. The 300-bed multi-specialty hospital in Sanaa, Yemen which opened in June 2006, and the similarly sized hospital now under construction in Cairo, Egypt, aim to raise the standard of medical care in both countries.
The hospitals in Egypt and Yemen will contribute to: - expanding access to healthcare in countries which are undergoing rapid increases in their levels of demand; - relieve some of the growing burden currently placed on the public health system and help stimulate the development of private health insurance; - offering increased employment opportunities to local healthcare professionals, and others in a superior healthcare environment; - providing a benchmark of service quality that will potentially raise the general standards of healthcare elsewhere in each country; and - facilitating international exchange of best medical and management practice across the group - and with the group's international partners.
BAIT AL-BATTERJEE MEDICAL CO. LTD
Mr. A.R. Mohan, Corporate Office Director Saudi German Hospitals Group P.O. Box 61313 Sharjah, United Arab Emirates Telephone: 971 6 5569900 Fax: 971 6 5569888
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The hospital in Yemen has been built on a 105,000 sq. meter plot of land in an ideally located district of Sanaa near the airport. In Egypt, the hospital will be built on a 37,000 sq. meter plot also within easy access to the airport as well as most major locations within Cairo.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
AA - Hospitals and Clinics
Total: $37.00 million
37000000.00
37000000.00
BAIT AL-BATTERJEE MEDICAL 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/25341/saudi-g-hospital
XM-DAC-903-SPI-26123
International Finance Corporation
AlterMed FCPR
AlterMed FCPR (Fonds Commun de Placement à Risques à Compartiments), the Fund, is a 75 million closed-end private equity fund which will make equity and equity-related investments in small and medium-sized enterprises (SMEs) located in North Africa and Turkey. Target industries will include pharmaceuticals, telecom, construction materials, consumer goods, food processing, plastics, mechanical industries, automotive parts, and logistics. AlterMed is a compartment style fund under French law, with each compartment managed as a separate fund. There are three country compartments (each a separately managed fund under one common legal framework):
- AlterMed Alternative Private Equity Fund (APEF) with a target size of 30 million to invest in Tunisia and opportunistically in Algeria (up to 15%);
- AlterMed Maghreb with a target size of 25 million to invest in Morocco with up to 10% in Algeria; and
- AlterMed Turkey with a target size of 20 million to invest in Turkey. The objective is to provide equity capital to an underserved market segment and thereby assist in the development of 25-35 small and medium sized businesses with high growth potential in the targeted countries.
The project:
- Fills the void in the market for private equity capital and expertise for growth SMEs;
- Assists portfolio companies in their growth and development strategies including opening up markets in Europe through business relationships with Viveris network of portfolio companies and financial partners in Europe;
- Adds value to portfolio companies by means of improved corporate governance and international best practices;
- Provides jobs to a growing labor force;
- Builds local institutions and skills;
- Contributes to sustainable economic development by incorporating environmental and social standards.
AlterMed FCPR
Jean-François Puech
Head of Investor Relations
Viveris Management
6, allees Turcat Mery
13008 Marseille
France
Tel : +33 4 91 29 41 82
Fax : +33 4 91 29 41 51
Jean-francois.puech@cepac.caisse-epargne.fr
www.viverismanagement.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Middle East Region
The Fund is headquartered in Marseille, France with local Investment teams in the three target countries in Rabat, Morocco, Tunis, Tunisia and Istanbul, Turkey.
Location description
A description that qualifies the activity taking place at the location.
26.0000000000 50.5500000000
BB - Private Equity/Venture Cap Fund - Regional
Total: $16.20 million
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/26123/altermed-fcpr