TND is 75% owned by Telmidy El Najim Driss, a Mauritanian entrepreneur (the “Sponsor”), and 25% by the Fund for Export Development in Africa (“FEDA”), a subsidiary of Afreximbank. 

The Project cost is estimated at EUR21.3 million. IFC’s proposed financing is an A loan of up to EUR6 million. The uses of funds include i) capex to fund the Company’s feedmill construction project as well as ii) working capital.

 The Project has various sites, located in a radius of 53 km from the capital Nouakchott. 

  This is a Category B project based on IFC’s 2012 Environmental and Social Sustainability Policy. The project is designed, as described in the sections below, to avoid, minimize and manage E&S risks and impacts of the Company’s operations in compliance with national legal and regulatory requirements, IFC Performance Standards and World Bank Group (WBG) General and sector-specific (poultry production and processing) Environmental, Health and Safety (EHS) Guidelines. IFC’s Good Practice Note on Animal Welfare and its application to TND’s operations has also been assessed during the appraisal. The key E&S risks and issues for this investment are: (i) implementation effectiveness of Environmental, Occupational Health and Safety (OHS), and HR/social management systems and procedures, (ii) EHS/HR organizational structure and internal capacity/competency; (iii) adherence to Mauritania labor law, working conditions, standards and OHS risk prevention and management for TND’s employees and contractors, including workers’ grievance mechanism; (iv) Emergency Preparedness Plan and Response, including Life and Fire Safety (L&FS) provisions; (v) wastewater treatment, solid waste disposal,  potable water sustainability and quality, treatment and monitoring; (vi) transport safety, (vii) animal welfare, including Global Gap for livestock certification, and (viii) stakeholder engagement with neighboring communities and community grievance mechanism.