KFP (IFC-38776)

Countries
  • Kazakhstan
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
Dec 19, 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
Kazfoodproducts LLP
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)
$ 25.00 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)
$ 25.00 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)
$ 55.00 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 Jan 17, 2018

Disclosed by Bank Jul 24, 2017


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Project Description
According to IFC website, the project aims to support KFP growth through: (i) vertical integration and product diversification in milling and deep processing of wheat (production of gluten, starch, animal feed and fructose syrup), and (ii) expansion of the confectionary business. The expected development impacts are: 1. Economic diversification: The Project will contribute to the country's strategic objective of economic diversification, through development of agribusiness sector, where Kazakhstan has significant potential. 2. Employment creation: The Project will contribute to job creation, including in frontier regions of Kazakhstan, where there are higher poverty rates and limited employment opportunities. 3. Food security via continuing exports of flour to grain deficit countries of Central Asia (including Tajikistan and Afghanistan). 4. Domestic value addition: By supporting domestic processing of agricultural commodities into gluten, starch, fructose and packaged food products, the project promotes local value addition, stronger downstream linkages with SMEs, and acquisition of new skills by the local labor force.
Investment Description
KazFoodProducts LLP , established in 1998, is one of the leading Kazakh food processing companies, operating in grain milling and confectionary sectors.

Contact Information
Project Contact: Madina Orazimbetova Project manager, Kazfoodproducts LLP Telephone No.: +77272582692 Email Address: omadina999@gmail.com Office Address: 132A, Dostyk Avenue, Almaty, 050051, Kazakhstan General IFC Inquiries IFC Communications 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/