Olam II WC Loan (IFC-34841)

Countries
  • India
  • Nigeria
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
Mar 29, 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
OLAM INTERNATIONAL LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 15, 2018

Disclosed by Bank Jan 6, 2016


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Project Description

This project finances working capital and capital expenditure in four different projects: Hermarus Sugar Mill Industries in India, Spices Processing Facility in India, a Crown Flour Mill plant in Nigeria and Sesame processing plant in Nigeria. 

Investment Description
  • International Finance Corporation (IFC)
Contact Information

Mr. Jayant S. Parande
President and Global Head – Treasury & IR, and Group Treasurer
9 Temasek Boulevard, #11-02 Suntec Tower Two
Singapore 038989
Telephone: +65 6339 4100
Fax: +65 6339 9217
Email: mailto:jayant@olamnet.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/