Unimetco (IFC-39478)

  • Algeria
  • Egypt
  • Lebanon
  • Nigeria
  • Turkey
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 15, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 11, 2020

Disclosed by Bank Jul 30, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, Unimetco Holding (“Unimetco” or the “Company”), a Lebanese incorporated holding company, is the largest independent manufacturer and system house for polyurethane and adhesives used in construction, footwear, appliances and furniture sectors in Middle East and North Africa region. The Company operates manufacturing facilities in the UAE, Egypt and Italy and distribution centers in Turkey, Algeria, and Jordan.

Unimetco is undertaking an investment plan to expand and establish i) polyester reactors and rigid capacity in Egypt and UAE, ii) system houses in Algeria and Nigeria, and iii) a packaging adhesives plant in Turkey. This investment plan, along with the associated permanent working capital requirement, constitutes the “Project”.       

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The total cost to implement the Project is estimated at US$40 million.

The proposed IFC investment is up to US$25m A loan for IFC’s own account to finance Unimetco’s expansions in Egypt, Algeria, Nigeria, and Turkey, in addition to the financing of the Company’s permanent working capital needs.  

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Unimetco is a joint stock company where shares are 100% owned by Dr. Ihsan Baalbaki collectively with his wife and three sons. Unimetco is the chemicals arm of the Baalbaki Group (the “Group”), a multi-sector Lebanon based business group with diversified operations in manufacturing (machinery and chemicals), real estate and financial services located across Middle East, Africa, Central Asia and Europe. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Unimetco Holding SAL Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

BCI Holding S.A.
Karim Baalbaki
Chairman & Managing Director
+961 1 347 616
6th Floor Baalbaki Bldg, Abdel Aziz Street, Hamra, Beirut, Lebanon


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/

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