Pasabahce Egypt Glass Manufacturing SAE (MIGA-3636)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
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.
Borrower
Pasabahce Cam Sanayii. ve Ticaret. A.S.
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)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 18.00 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)
$ 18.00 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 @ MIGA website

Updated in EWS May 29, 2018

Disclosed by Bank Mar 8, 2018


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Project Description

This summary covers an equity investment of up to US$18.0 million by Pasabahce Cam Sanayii. ve Ticaret. A.S. of Turkey (“Pasabahce Turkey”) into Pasabahce Egypt Glass Manufacturing S.A.E. in Cairo, Egypt. The investor has applied for a MIGA guarantee for a period of up to 15 years against the risks of Transfer Restriction, Expropriation, War and Civil Disturbance, and Non-Enforcement of Arbitral Award rendered pursuant to a Bilateral Investment Treaty.

The project consists of an asset acquisition by Pasabahce Turkey as part of its business growth plan in the glassware sector. Investments other than assets purchased include the modernization of the plant and introduction of different production processes to improve the quality standards.

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Private Actors
Contact Information

*Contact information not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF MIGA

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/