Man Holding is a regional EPC company established in 1971 in Lebanon. It is a leading construction company in Lebanon and a landmark builder in the Middle East & Africa with a diverse portfolio covering residential, commercial and infrastructure projects. Man Holding SAL is incorporated in Lebanon and consolidates the group’s operations in Lebanon while Man Holding Limited is incorporated in Guernsey and consolidates operations outside Lebanon. Both entities are owned by Man Holding Luxembourg SCS, which is ultimately owned by Noel, Thierry, Patrick and Aida Abi Nader. The Company employs over 400 skilled professionals and over 3,000 blue-collar workers across different countries.

IFC’s investment will be through a senior secured A-Loan of up to US$15.0 million. The Company will use the loan proceeds to support its capacity expansion program by growing its project backlog across the Middle East & Africa.

The proposed IFC investment will support the working capital requirement of the group in bidding and undertaking construction projects across multiple countries in the Middle East and Africa. These include Lebanon, Jordan, Iraq, Mali, Ghana, Senegal and Ivory Coast among others.

No risks to expected development impacts are noted

The Key E&S risks associated with this Category-B project include: (a) adequate E&S due diligence / screening of projects in line with IFC PSs (including PS5 to 8 as well);  focusing on any legacy issues/claims, E&S and labor management practices; to identify and mitigate E&S risks and impacts; (b) assurance of fair, safe and healthy labor and working conditions in line with IFC PSs, with a specific focus on contractor management, occupational health and safety (OHS); incident investigation system, internal grievance mechanism, freedom of organization, gender and gender based violence; (c) community health, safety and security, including traffic/road safety management; and (d) stakeholder engagement and external grievance mechanism.