SIS school (IFC-37139)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Specific Location
Greater Jakarta, Medan, Palembang, Cilegon, Semarang, Makassar, Pontianak, Solo, Surabaya, Malang
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Approved
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
Aug 24, 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
SOUTHGATE VENTURES PTE LTD
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
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)
$ 38.00 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 Oct 13, 2018

Disclosed by Bank Mar 25, 2016


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Project Description

According to IFC website, SIS Group of Schools is a private K-12 education institution in Indonesia with 8 campuses located in several cities in Indonesia, including Jakarta, Medan, Semarang, Cilegon and Palembang. SIS is planning to refurbish some of its existing campus buildings, to build up its corporate capabilities and to further expand its operations to other cities in Indonesia and other ASEAN countries should such opportunities arise. The following areas to which the project is set to have development impact: 

1. Increase availability and quality of K-12 education in Indonesia
2. Improve quality of local teachers in Indonesia
3. Employment generation

Investment Description
  • International Finance Corporation (IFC)
Private Actors

The project main sponsor is Abraaj, a private equity fund manager investing in growth markets across Asia, Africa, Latin America, Turkey and the Middle East. Founded in 2002, Abraaj currently manages c. US$ 9.5 billion across regional, sector and country-specific Funds. It has realized approximately US$ 5.4 billion from over 80 full and partial exits, and Funds managed by Abraaj have made over 140 investments across various sectors including consumer, energy, financials, healthcare and utilities.

Contact Information

Project Contact: Oliver Anderson
Office Address: Corporate Office, SIS Group of Schools
Jl. Bona Vista Raya, Lebak Bulus, Jakarta Selatan – 12440, Indonesia
Telephone No.: +62 21 759 14414 | Fax : +62 21 759 144 24
Email Address:oliver@sisschools.org

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/