Essilao (IFC-32557)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Laos
Where the impacts of the investment may be experienced.
Specific Location
Savannakhet, Lao PDR
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 24, 2013
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ESSILOR LAO COMPANY LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 34.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 5, 2018

Disclosed by Bank May 20, 2013


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Project Description

Essilor International (Compagnie Générale d’Optique SA Essilor, hereafter ‘Essilor’) is operating an optical lenses company in Savannakhet, Lao PDR (hereafter ‘Essilao’). They manufacture polycarbonate eyeglass lenses. Essilor’s headquarter is based in Charenton-le-Pont, France and listed on the Paris Stock Exchange.

In Savannakhet, the company is located in the Savan-SENO Special Economic Zone Authority (SEZA). The Special Economic Zone (SEZ) was established by Prime Minister's Decree 177 in 2003 and currently comprises four zones (A-D) occupying 867 ha;

The Developer of Saven Park is Savan Pacifica Development Company Ltd. The total 234ha covers Zone C of the SEZ and zoned for industrial and commercial use. 

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

1/ Project Contact

Gerard Malledant
No. 027, Unit 04
Ratsavongseuk RD
Thahae Village, Kaisone Phomvihan District
Savannakhet Province, Lao PDR
Tel: +856 41 252 620

2/ IFC Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

3/ Local contact for project documentation

Gerard Malledant
No. 027, Unit 04
Ratsavongseuk RD
Thahae Village, Kaisone Phomvihan District
Savannakhet Province, Lao PDR
Tel: +856 41 252 620

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/