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.
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
  • International Finance Corporation (IFC)
Contact Information
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