Arpico Retail (IFC-33883)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
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
Feb 19, 2016
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
Richard Pieris Distributors Limited
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
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.
Investment Amount (USD)
$ 7.50 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)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported
Converted using 2016-02-19 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 7, 2017

Disclosed by Bank Dec 21, 2015


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Project Description
This project provides funding with the intention of expanding a retail store chain across Sri Lanka. The areas where the stores are planned have already been leased or are owned, and there will be no additional construction outside of these locations.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Shalinka Seresinhe Financial Controller Richard Pieris Distributors Limited 310, High Level Road, Nawinna, Maharagama, Sri Lanka. Tel: +94 011 431 0732 Fax: +94 011 430 4030 Email: mailto:shalinka.s@arpico.com 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/