PROJECT

Projects

Summary of Investment Information

Project Number

43466

Company Name

NATIONAL DAIRY AND FOOD COMPANY

Date SPI Disclosed

Sep 29, 2020

Country

Yemen, Republic of

Region

Middle East

Projected Board Date

Dec 10, 2020

Environmental Category

B - Limited

Status

Completed

Last Updated Date

May 8, 2026

Department

Regional Industry MAS MCT

Industry

Agribusiness and Forestry

Previous Events

Approved : Dec 10, 2020
Signed : Dec 28, 2020
Invested : Jul 6, 2021

Sector

Grain Processing (Milling, Starch, Flour, Malt)

Additional Project Attributes

Blended Finance

Project Description

 The proposed investment consists of a US$75 million financing package to Hayel Saeed Anam (HSA or the Sponsor) Group’s food processing operations in Yemen (HSA Foods). The funds will be used to finance the permanent working capital needs of HSA Foods which is producing necessity foods such as flour, sugar and dairy products for local consumption.    

Associated Advisory Engagement

  Advisory services engagement is being considered in two key areas, namely: 

i) Energy and water efficiency / wastewater treatment solutions to reach optimum design for wastewater treatment plans of HSA Foods considering significant water scarcity issues in Yemen. Energy efficiency work will also be looking into alternative generation solutions for the plants, including hybrid solar/thermal solutions.

ii) Gender diversity: IFC gender team will also be engaging with HSA Foods to support their plans to increase women participation in the workforce.  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation