Juniper Glass (IFC-36680)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Countries
  • Ethiopia
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
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
Juniper Glass Industries
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)
$ 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.
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)
$ 82.00 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 Jun 16, 2018

Disclosed by Bank May 14, 2018


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Project Description

According to IFC website, the project consists of the development and operation of a greenfield glass container manufacturing plant with a targeted manufacturing capacity of c. 40,000 tonnes of glass which can be sold per annum (with an intention to increase to 60,000 tonnes per annum) in Debre Birhan, approximately 132 km north-east of Addis Ababa, the capital city of Ethiopia. The expected development benefits of the project include the following:

1. Development of a competitive, manufacturing sub-sector serving the Ethiopian market and capable of generating exports.
2. Development of new technology and best practices in the nascent Ethiopian glass manufacturing sector.
3. Increased availability of high quality glass containers in Ethiopia at competitive prices.
4. Forex earnings/savings generated by exports and displacement of imports. Ethiopia suffers from severe current account deficits and persistent lack of foreign exchange availability.
5. Job creation: The Project is expected to create approximately 200 local jobs directly resulting in substantial skills development.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

Borrower: Juniper Glass Industries SC,
Brooks Washington
Contact No.: +251 912 685 299,
Email Address: brooks.washington@juniperglass.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/