Polykrome SA (IFC-38748)

Countries
  • Senegal
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.
Voting Date
Nov 28, 2017
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
POLYKROME SA
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)
$ 5.93 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 5 million euros
Converted using 2017-11-24 exchange rate.
Project Cost (USD)
$ 12.46 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 10.5 million euros
Converted using 2017-11-24 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 24, 2017

Disclosed by Bank Oct 27, 2017


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Project Description
The proposed loan of up to EUR 9 million to Polykrome SA (the “Company”) is to support the Company’s investment program, and includes: (i) relocating Polykrome’s existing production facility to a new industrial site; (ii) purchasing additional machinery to expand its product offering; and (iii) working capital requirements (the “Project”). The proposed loan of up to EUR 9 million to Polykrome SA (the “Company”) is to support the Company’s investment program, and includes: (i) relocating Polykrome’s existing production facility to a new industrial site; (ii) purchasing additional machinery to expand its product offering; and (iii) working capital requirements (the “Project”).
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Polykrome SA Mr. Walid Attieh Directeur General + 221 33 889 55 55 walid.attieh@polykrome.sn 9 Rue Amadou Assane Ndoye BP 488 Dakar, Senegal http://polykrome.sn 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/