PROJECT

Projects

Summary of Investment Information

Project Number

44257

Company Name

ADDAX ENERGY SA

Date SPI Disclosed

Mar 29, 2022

Country

Mauritania

Region

Africa

Projected Board Date

Jun 10, 2020

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jul 21, 2023

Department

CM3P6 - Regional Industry - MAS Africa/MAS Portf West/Ctrl/South Africa

Industry

Financial Markets

Previous Events

Approved : Jun 10, 2020
Signed : Jun 18, 2020
Invested : Jun 23, 2020

Sector

Commercial Banking - Trade and Supply Chain

Project Description

 The project consists of an investment of USD 40 million by IFC to be part of a revolving structured commodity trade finance facility (the “Facility”), arranged by Société Générale Corporate & Investment Banking (“SG CIB”) for Addax Energy S.A. (“Addax”) to finance imports of petroleum products in Mauritania.

IFC previously financed Addax’s imports of energy products into Mauritania during 2018-2020. The relevant disclosure is available through the link at https://disclosures.ifc.org/project-detail/SII/41069/gtst-mauritania-2018.                                                                                        

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation