Summary of Proposed Investment
Project Number
8816
Company Name
Groupe Scolaire Fanaicha
Date SPI Disclosed
Mar 12, 1998
Country
Senegal
Industry
Health, Education and Life Sciences
Status
Completed
Sector
Elementary and Secondary Schools
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : May 4, 1998
Signed : Jul 1, 1998
Invested : Mar 19, 2001
Project Description
SUMMARY OF PROJECT INFORMATION (SPI)
Project Name : SENEGAL - FANAICHA
Region : Sub-Saharan Africa
Sector: Private Education
Project No: 008816
Projected Board Date: April 13, 1998
Company Name: Groupe Scolaire Fanaïcha
Technical Partner and/ or Major Shareholders:
Mrs. Coumba Keita Toure, a Senegalese national, is the sole sponsor of the project and the sole proprietor of Fanaïcha. She was an inspector of nursery schools at the National Ministry of Education before taking early retirement. She has successfully operated the company since 1994.
Project Cost Including proposed IFC investment:
Total project cost is estimated at US$463,204 equivalent. IFC has been solicited to provide a local currency guarantee of US$250,000 equivalent for a loan with a 6 and a half year term.
Location of Project and Description of Site:
The school is located in the new residential area of Sotrac-Mermoz, a few kilometers from downtown Dakar. The project site is on an enclosed plot of land measuring 3,406 sq.m
Description of Company and Purpose of Project (include IFC’s role and development impact):
Fanaïcha has been operating since October 1994, providing schooling from nursery to the high secondary level. The project consists of upgrading and equipping the existing facilities and building the following : 8 additional classrooms, dormitories for boys and girls, language laboratories, equipped science laboratories, a library, and a cafeteria. The objective is to create a modern educational environment which will enable and motivate children in their studies.
IFC''s involvement will provide the Company otherwise unavailable access to long-term financing. The project, at full capacity, will provide reasonably prices education to more than 900 students annually and assist in alleviating pressure on the public education system.
IFC’s support will give credibility to a business sponsored by a small investor. It will also have example value in the private education sector in Senegal which is currently undergoing a strong expansion and it will help increase girls’ literacy.
Environmental Category and Issues:
This is a category B project according to IFC’s environmental procedure. The key environmental, health and safety issues considered in this project include waste management; use storage and handling of hazardous chemicals; fire protection and safety. The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with applicable governmental and World Bank requirements. The school is located in Sotrac Mermoz a few Km from downtown Dakar.
Sanitary effluents and waste from the laboratories will be separately collected and stored in underground tanks, to be periodically removed for disposal to an authorized facility in Dakar. Solid waste includes kitchenwaste, packaging and office waste. Kitchen waste is donated while other wastes are collected and disposed of in the Dakar municipal landfill.
No Ozone Depleting Susbstances will be used or produced. Laboratories hazardous chemicals are segregated and stored so as to avoid accident and release to the environment.
Adequate fire protection and life safety measures and designs have been incorporated into the building structures and regular fire and safety response drills will be carried out.
IFC will monitor FANAICHA’s ongoing compliance with World Bank policies and guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by the sponsor and by conducting periodic site reviews during project supervision. The Environmental Review Summary is available at the Infoshop.
Date SPI sent to PIC March 12, 1998
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration. ”
For Additional Information contact : Corporate Relations Unit -
Telephone: (202) 473-7711
Facsimile: (202) 974-4384
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Project Name : SENEGAL - FANAICHA
Region : Sub-Saharan Africa
Sector: Private Education
Project No: 008816
Projected Board Date: April 13, 1998
Company Name: Groupe Scolaire Fanaïcha
Technical Partner and/ or Major Shareholders:
Mrs. Coumba Keita Toure, a Senegalese national, is the sole sponsor of the project and the sole proprietor of Fanaïcha. She was an inspector of nursery schools at the National Ministry of Education before taking early retirement. She has successfully operated the company since 1994.
Project Cost Including proposed IFC investment:
Total project cost is estimated at US$463,204 equivalent. IFC has been solicited to provide a local currency guarantee of US$250,000 equivalent for a loan with a 6 and a half year term.
Location of Project and Description of Site:
The school is located in the new residential area of Sotrac-Mermoz, a few kilometers from downtown Dakar. The project site is on an enclosed plot of land measuring 3,406 sq.m
Description of Company and Purpose of Project (include IFC’s role and development impact):
Fanaïcha has been operating since October 1994, providing schooling from nursery to the high secondary level. The project consists of upgrading and equipping the existing facilities and building the following : 8 additional classrooms, dormitories for boys and girls, language laboratories, equipped science laboratories, a library, and a cafeteria. The objective is to create a modern educational environment which will enable and motivate children in their studies.
IFC''s involvement will provide the Company otherwise unavailable access to long-term financing. The project, at full capacity, will provide reasonably prices education to more than 900 students annually and assist in alleviating pressure on the public education system.
IFC’s support will give credibility to a business sponsored by a small investor. It will also have example value in the private education sector in Senegal which is currently undergoing a strong expansion and it will help increase girls’ literacy.
Environmental Category and Issues:
This is a category B project according to IFC’s environmental procedure. The key environmental, health and safety issues considered in this project include waste management; use storage and handling of hazardous chemicals; fire protection and safety. The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with applicable governmental and World Bank requirements. The school is located in Sotrac Mermoz a few Km from downtown Dakar.
Sanitary effluents and waste from the laboratories will be separately collected and stored in underground tanks, to be periodically removed for disposal to an authorized facility in Dakar. Solid waste includes kitchenwaste, packaging and office waste. Kitchen waste is donated while other wastes are collected and disposed of in the Dakar municipal landfill.
No Ozone Depleting Susbstances will be used or produced. Laboratories hazardous chemicals are segregated and stored so as to avoid accident and release to the environment.
Adequate fire protection and life safety measures and designs have been incorporated into the building structures and regular fire and safety response drills will be carried out.
IFC will monitor FANAICHA’s ongoing compliance with World Bank policies and guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by the sponsor and by conducting periodic site reviews during project supervision. The Environmental Review Summary is available at the Infoshop.
Date SPI sent to PIC March 12, 1998
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration. ”
For Additional Information contact : Corporate Relations Unit -
Telephone: (202) 473-7711
Facsimile: (202) 974-4384
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
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