GTST Ethiopia17 (IFC-39592)

Countries
  • Ethiopia
Where the impacts of the investment may be experienced.
Specific Location
Addis Ababa
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
U
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 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
ETHIOPIAN PETROLEUM SUPPLY ENTERPRISE
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • No Restrictions
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Amount (USD)
$ 100.00 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)
$ 350.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 14, 2017

Disclosed by Bank Apr 14, 2017


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Project Description
IFC and Natixis are considering to establish a facility to enable an international energy trading company to sell petroleum products to Ethiopia for the year 2017. This facility will help secure fuel supply to the second most populated country in Sub-Saharan Africa and one of the fastest growing economies in Africa. The proposed investment will have significant development impacts as follows: (a) Maintain the availability of trade finance in Ethiopia and ensure stability of supply of energy products into an IDA economy. The Project is expected to finance imports of about 1.4 million metric tons of petroleum products into Ethiopia over a year, which is critical for retail and industrial consumption, power and transportation sectors. (b) Support Private Sector - The facility will indirectly support the business activities of private marketing and distribution companies in the downstream oil sector.
Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor Relationship

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
8minutenergy Renewables LLC Parent Company Energy owns CD Clean Energy & Client Energy
Abu Dhabi Electricity & Water Parent Company Energy owns Sweihan Solar Photovoltaic Client Energy
ACS Parent Company Energy owns Acs Solar Pv Plants Client Energy
ACS Parent Company Construction owns Hochtief AG Client Construction
Advent International Corp Parent Company Construction owns Circet SAS Client Construction
Akira Holding Foundation Parent Company Agriculture and Forestry owns Louis Dreyfus Co Brasil SA Client Agriculture and Forestry
Apax Partners LLP Parent Company Agriculture and Forestry owns Europe Snacks Client Agriculture and Forestry
Ardian SAS Parent Company Construction owns Celli SpA Client Construction
Ardian SAS Parent Company Agriculture and Forestry owns Cerelia SAS Client Agriculture and Forestry
Ardian SAS Parent Company Education and Health owns Inula NV Client Education and Health
Ardian SAS Parent Company Agriculture and Forestry owns Solina Group Client Agriculture and Forestry
Ardian SAS Parent Company Agriculture and Forestry owns Solina Group SAS Client Agriculture and Forestry
Attis 2 Sas Parent Company Agriculture and Forestry owns Gascogne SA Client Agriculture and Forestry
Australia Parent Company Energy owns Ausgrid Finance Pty Ltd Client Energy
Bain Capital LP Parent Company Construction owns Consolis SAS Client Construction
BANKINTER SA Parent Company Energy owns Solucia Renovables 1 Sl Client Energy
BPCE SA Parent Company Energy owns Cambon Wind Farm Client Energy
BPCE SA Parent Company Construction owns Loire-Atlantique Telecom & Client Construction
Brookfield Asset Management Parent Company Energy owns TerraForm Power Inc Client Energy
BSA International SA Parent Company Agriculture and Forestry owns Groupe Lactalis SA Client Agriculture and Forestry
BSA SAS Parent Company Agriculture and Forestry owns Groupe Lactalis SA Client Agriculture and Forestry
Bunge Ltd Parent Company Agriculture and Forestry owns Bunge Finance Europe Client Agriculture and Forestry
Caisse Federale Credit Mutuel Parent Company Construction owns Circet SAS Client Construction
Caisse Federale Credit Mutuel Parent Company Agriculture and Forestry owns Routin Sasu Client Agriculture and Forestry
Calpine Corp Parent Company Energy owns Calpine Constr Finance Co LP Client Energy
Cardinal Health Inc Parent Company Communications owns naviHealth Inc Client Communications
Cargill Inc Parent Company Agriculture and Forestry owns Cemoi Group Client Agriculture and Forestry
CDC Asset Management Europe Parent Company Energy owns Valeco Renewable Power Client Energy
CDRSVM Acquisition Co Inc Parent Company Construction owns TruGreen Chemlawn Client Construction
Centerbridge Partners LP Parent Company Construction owns Senvion GmbH Client Construction
Charoen Pokphand Foods PCL Parent Company Agriculture and Forestry owns CP Merchandising Co Ltd Client Agriculture and Forestry
Charterhouse Capital Partners Parent Company Communications owns Sagemcom Broadband SAS Client Communications
China National Chemical Corp Parent Company Construction owns CNCE Group (Hong Kong) Co Ltd Client Construction
China National Chemical Corp Parent Company Construction owns KraussMaffei GmbH Client Construction
Clayton Dubilier & Rice Hldg Parent Company Construction owns Brand Energy & Infrastructure Client Construction
CNH Industrial NV Parent Company Construction owns CNH Global NV Client Construction
Cobehold SA Parent Company Construction owns Gerflor SAS Client Construction
COFCO Corp Parent Company Agriculture and Forestry owns COFCO (Hong Kong) Ltd Client Agriculture and Forestry
COFCO Corp Parent Company Agriculture and Forestry owns Nidera BV Client Agriculture and Forestry
Conoco Pennzoil Parent Company Energy owns Immingham CHP Client Energy
Credit Suisse Grp Ag Parent Company Energy owns Saeta Yield Acq Client Energy
CVC Advisers Ltd Parent Company Education and Health owns Genetic SpA Client Education and Health
Dentressangle Initiatives SAS Parent Company Communications owns Tessi SA Client Communications
Dubai Electricity & Water Parent Company Energy owns DEWA Concentrated Solar Power Client Energy
Enbridge Inc Parent Company Energy owns St Nazaire Offshore Wind Farm Client Energy
ENER-G Holdings PLC Parent Company Energy owns CMR Group Client Energy
Energy Capital Partners LLC Parent Company Energy owns Calpine Corp Client Energy
Energy Future Holdings Corp Parent Company Energy owns Texas Competitive Electric Client Energy
Eren Groupe SA Parent Company Energy owns Total Eren Nov Client Energy
Fimave NV Parent Company Agriculture and Forestry owns Siat SA Client Agriculture and Forestry
FIMEI SpA Parent Company Education and Health owns Recordati SpA Client Education and Health
First Pacific Co Ltd Parent Company Agriculture and Forestry owns PT Indofood Sukses Makmur Tbk Client Agriculture and Forestry
Fondation Pierre Fabre Parent Company Education and Health owns Pierre Fabre SA Client Education and Health
Fonterra Co-operative Grp Ltd Parent Company Education and Health owns DMV-Fonterra Excipients GmbH Client Education and Health
France Parent Company Energy owns Areva SA Client Energy
France Parent Company Education and Health owns LFB SA Client Education and Health
France Parent Company Energy owns Orano SA Client Energy
France Air Holding SA Parent Company Construction owns France Air SA Client Construction
Freixenet SA Parent Company Agriculture and Forestry owns Yvon Mau(Freixenet SA) Client Agriculture and Forestry
GEM Holdings Ltd Parent Company Energy owns Electrogas Malta Project Client Energy
General Electric Co Parent Company Energy owns Los Guindos Generacion SpA Client Energy
Grupo Argos SA Parent Company Construction owns Argos N America Corp Client Construction
HDL Development SAS Parent Company Construction owns Assystem SA Client Construction
Iberdrola SA Parent Company Energy owns Iberdrola Mexico SA de CV Client Energy
ICG PLC Parent Company Construction owns Gerflor SAS Client Construction
IK Investment Partners Ltd Parent Company Agriculture and Forestry owns Cerelia SAS Client Agriculture and Forestry
Invenergy LLC Parent Company Energy owns Invenergy Wind Operating I LLC Client Energy
Latour Capital SAS Parent Company Construction owns Sogetrel SA Client Construction
Limagrain SCA Parent Company Agriculture and Forestry owns VILMORIN & CIE SA Client Agriculture and Forestry
Macquarie Grp Ltd Parent Company Construction owns Blankenburg Tunnel PPP Client Construction
Macquarie Grp Ltd Parent Company Energy owns Firebolt RB Holdings Limited Client Energy
Macquarie Grp Ltd Parent Company Energy owns Techem GmbH Client Energy
Mayroy SA Parent Company Education and Health owns Ipsen SA Client Education and Health
MBWS Parent Company Agriculture and Forestry owns Marie Brizard et Roger Intl SA Client Agriculture and Forestry
Mediolanum Farmaceutici SpA Parent Company Education and Health owns Neopharmed Gentili SpA Client Education and Health
Ministry of Finance Singapore Parent Company Agriculture and Forestry owns Olam International Ltd Client Agriculture and Forestry
Montagu Private Equity LLP Parent Company Education and Health owns Laboratoires Arkopharma SA Client Education and Health
Montagu Private Equity LLP Parent Company Education and Health owns Nemera Development SA Client Education and Health
Novafives SAS Parent Company Construction owns ECL Client Construction
NRG Energy Inc Parent Company Energy owns NRG Yield Inc Client Energy
Orpar SA Parent Company Agriculture and Forestry owns Remy Cointreau SA Client Agriculture and Forestry
Partners Group Holding AG Parent Company Construction owns Ammeraal Beltech Holding BV Client Construction
Perceva Capital SAS Parent Company Agriculture and Forestry owns Furic Maree Ocealliance SAS Client Agriculture and Forestry
PPL Corp Parent Company Energy owns Talen Energy Supply LLC Client Energy
Proxiserve Holding SA Parent Company Construction owns Proxiserve SA Client Construction
Rocca & Partners SA Parent Company Energy owns Techgen Client Energy
RWE AG Parent Company Construction owns Triton Knoll Offshore Wind Client Construction
Saline Water Conversion Corp Parent Company Energy owns Rabigh 3 Desalination IWP Client Energy
Salini Costruttori SpA Parent Company Construction owns Salini Impregilo SpA Client Construction
Saudi Arabia Parent Company Energy owns Saudi Electricity Co SJSC Client Energy
Sequana SA Parent Company Agriculture and Forestry owns Antalis International SA Client Agriculture and Forestry
SPIE SA SPV Parent Company Construction owns Spie SA Client Construction
Tereos Union de Cooperatives Parent Company Agriculture and Forestry owns Guarani SA Client Agriculture and Forestry
The Carlyle Group LP Parent Company Agriculture and Forestry owns Grupo Empresarial Palacios Client Agriculture and Forestry
Triskalia SCA Parent Company Agriculture and Forestry owns Eureden SAS Client Agriculture and Forestry
Union Invivo USCA Parent Company Agriculture and Forestry owns Invivo Grp Client Agriculture and Forestry
Unither Pharms SAS SPV Parent Company Education and Health owns Unither Pharmaceuticals SAS Client Education and Health
Votorantim SA Parent Company Construction owns Votorantim Cimentos SA Client Construction
Woodbridge Co Ltd Parent Company Communications owns Refinitiv Client Communications
Yinson Holdings Bhd Parent Company Construction owns Yinson Prodn (W Africa) Pte Client Construction

Contact Information
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/