PROJECT

Projects

Summary of Investment Information

Project Number

48045

Company Name

ADDAX ENERGY SA

Date SPI Disclosed

Jun 14, 2023

Country

Africa Region

Region

Africa

Projected Board Date

Jul 14, 2023

Environmental Category

B - Limited

Status

Active

Last Updated Date

Oct 28, 2023

Department

Regional Industry - MAS Africa

Industry

Financial Markets

Previous Events

Approved : Oct 5, 2023
Signed : Oct 20, 2023
Invested : Oct 26, 2023

Sector

Commercial Banking - Trade and Supply Chain

Project Description

  The project consists of a funded participation by IFC in two syndicated borrowing base commodity-backed trade finance facilities (referred to as Facilities or BBFs) for up to USD 40 million each, arranged by Société Générale Corporate & Investment Banking for Addax Energy S.A. (“Addax”) to finance imports of petroleum products in Mauritania and West African countries.

 

IFC has previously financed Addax's imports of energy products into Mauritania since 2020 and into West African countries such as Benin, Burkina Faso, Côte d’Ivoire, Mali, Senegal, and Sierra Leone starting in 2021.

 

The relevant disclosures are available respectively through the following links at:

https://disclosures.ifc.org/project-detail/SII/44257/rse-covid-gtst-mauritania

https://disclosures.ifc.org/project-detail/SII/44969/gtst-aesa-waf20

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation