Rubber Afriland (IFC-37027)

Countries
  • Liberia
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
U
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
Jul 20, 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
Firestone Liberia, Inc.
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 Amount (USD)
$ 2.50 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)
$ 2.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 31, 2017

Disclosed by Bank Jun 21, 2016


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Project Description
The proposed project is up to US$2.5 million in long-term financing (&#8220;Project&#8221;) to provide financing through Afriland First Bank Liberia Limited (&#8220;AFB Liberia&#8221;) to up to 800 rubber farmers in Liberia for the replanting and renovation of aging rubber plantations. IFC will finance farmers through AFB Liberia which will act as an agent, administering and servicing loans to the farmers. Firestone Natural Rubber Company, LLC (&#8220;Firestone&#8221;) will identify potential eligible outgrowers, offer technical assistance, and provide an offtake agreement. <br><br>The proposed program will be supported by the Private Sector Window of the Global Agriculture and Food Security Program (&#8220;GAFSP&#8221;).
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Hamadou O. Bayo CEO Afriland First Bank Liberia Limited Broad Street-Crown Hill PO BOX 1935 1000 Monrovia, 10 Libéria Tel : + 231 0 880 534 093 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/