Elif Egypt II (IFC-37748)

  • Turkey
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
Bank Risk Rating
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
Apr 30, 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.
The holder of the loan, grant, or other investment.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 29, 2017

Disclosed by Bank Mar 23, 2016

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Project Description
IFC investment consists of a loan of up to US$20 million for Elif’s working capital requirements and ongoing general investments in Elif Plastik Ambalaj Sanayi ve Ticaret A.S. (“Elif”, the “Sponsor” or the “company”), a global supplier of flexible thin films packaging industry primarily catering to consumer product companies..
Investment Description
Elif Plastik, a global supplier of flexible plastic packaging solutions for consumer goods, is a family owned company with production facilities in Istanbul, Turkey. It was formed in 1972 and is presently owned by the Salargil family of Turkey. IFC investment consists of a loan of up to US$20 million for Elif’s working capital requirements and on-going general investments.

Contact Information
Contact Person: QA Manager Plant Manager Company Name: Elif Group Elif Global Packaging SAE Address: Istanbul Cairo Email: mailto:ayhanilgaz@elif.com Phone: +902126220622 +201060759671 +905325912516 /(mobile) Facsimile: +902126220666 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/