Soufflet LT (IFC-38083)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Kazakhstan
  • Poland
  • Romania
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
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
May 31, 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
Soufflet Finances
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 34.19 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)
$ 34.19 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 Jan 17, 2018

Disclosed by Bank Apr 29, 2016


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
According to IFC website, IFC has been supporting the growth of Soufflet’s operations since 2009 and this would be IFC’s fourth project with the Group. IFC’s investment entails provision of €30 million loan to support Groupe Soufflet’s long-term investment plan of in Kazakhstan, Ukraine, Romania, and Poland (the Project Countries). An existing, strategic IFC client, Soufflet is an established mid-size global originator, trader, and processor of grains (primarily wheat and barley). In 2015, Soufflet employed 7,500 staff and reached more than 17,500 farmers in the EU and ECA regions. IFC’s current exposure to the Group amounts to ~€60 million in the form of 2 parallel revolving credit facilities committed in 2014 and that will mature in 2019.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Project Contact: Ms. Marie-Ange Mathieu Chief Financial Officer, Soufflet Office Address: Quai du General Sarrail, 10400 Nogent sur Seine Cedex, France Telephone No.: +33 3 2539 41 11 Email Address: treasury@soufflet.com Website: http://www.soufflet.com General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384 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/