PROJECT

Projects

Summary of Investment Information

Project Number

36565

Company Name

ETHIOPIAN PETROLEUM SUPPLY ENTERPRISE

Date SPI Disclosed

Apr 30, 2015

Country

Ethiopia

Region

Africa

Projected Board Date

May 29, 2015

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Gbl Ind, Manufact, Agribus & Services

Industry

Financial Markets

Previous Events

Approved : Jun 8, 2015
Signed : Jul 4, 2015
Invested : Aug 28, 2015

Sector

Commercial Banking - Trade and Supply Chain

Project Description

IFC, Natixis, along with a number of other commercial lenders are considering to establish a facility of up to US$ 350 million in favor of Vitol Bahrain E.C. (“Vitol Bahrain”) related to imports of petroleum products in Ethiopia for the year 2015. This facility will help secure fuel supply to the second most populated country in Sub-Saharan Africa and one of the fastest growing economies in Africa. Of the total facility amount, IFC’s exposure will be up to US$ 100 million in a form of direct parallel lending.
IFC has financed imports of petroleum products in Ethiopia in 2013 and 2014. (IFC project number 32846 and 34934 respectively)

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation