10.22 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	10.22
Equity

* These investment figures are indicative

Project Impacts - Stakeholder Impact: In order to support the employees and their communities, which predominantly rely on subsistence agriculture, Subati provides housing and access roads to link its workers to the farms and cold storage facilities. - Direct employment: Greenhouse production and subsequent preparation of flowers for export are very labor intensive operations, requiring 2,000 employees currently and increasing by about 700 as a result of the project. - Value added, and return to the economy: Better operational efficiencies, climate smart solutions and expansion of both rose and herb farms will help the company to diversify into different crops and enhance the company's competitiveness. The expansion of sustainable flower production and the development of the new export-oriented herb sector will contribute to broader private sector competitiveness in Kenya, help to diversify the economy, and generate valuable foreign currency revenues. - Environmental & social impact: Given the environmental and social sensitivities related to flower production in Kenya, especially in the area of Lake Naivasha, the bar for the sustainability of any new investments is very high. IFC anticipates the project will be developed in line with best international practices, especially with regard to water management to maximize resource use efficiency. A new water treatment plant will be financed by the project at the herb farm. The project will contribute to the climate change agenda by financing solar panels and a cold storage facility for herbs, reducing GHG emissions and crop losses. Market Impact - The project has the potential to enable the development of herb markets in Kenya by further confirming the country's competitiveness in this space and the natural complementarities with the flower production.

(1) Knowledge and innovation - The Project represents a unique opportunity to leverage IFC's expertise to improve the Company's operation: (i) Technical expertise, global knowledge of the industry and markets as well as lessons learned from other horticulture projects; (ii) Climate smart production: value added from IFC's energy & resource team as the Company plans to improve energy efficiency (2) Standard setting - IFC will collaborate with the Company to mitigate any deficiencies in these areas: (i) Water management and (ii) Food safety (3) Financial risk mitigation - IFC will provide a long-term financing at an affordable rate in a country where long-term financing is scarce and expensive.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.