KTDA ICD (IFC-41498)

Countries
  • Kenya
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Jun 17, 2019
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.
Borrower
KENYA TEA DEVELOPMENT AGENCY HOLDINGS LTD
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 10.00 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)
$ 17.70 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.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 28, 2019

Disclosed by Bank May 17, 2019

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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.

The proposed investment is an A Loan of up to US$10 million to Kenya Tea Development Agency Holdings Ltd (KTDA). The A Loan will support the expansion strategy of KTDA in logistics business and finances a US$17.7 million greenfield inland container depot (ICD) project that comprises of 6.7 acres of container stacking yard, 0.9 acres of covered warehouses, and auxiliary facilities in Nairobi (the Project).

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The Project develops cargo freight logistics infrastructure in the city of Nairobi, which improves capacity and affordability of services. At the market level, the Project contributes to improving integration of the logistics networks centered around the Port of Mombasa and the new standard gauge railway (SGR) line linking Mombasa to Nairobi, by improving the Port's hinterland footprint and connectivity.

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

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.

Kenya Tea Development Agency Holdings Ltd 
Mr. Benson Ngari 
Director 
+254 20 322 7000 
BNgari@ktdateas.com 
KTDA Farmers Building, Moi Avenue, P.O. Box 30213-0010, Nairobi, Kenya 
https://www.ktdateas.com/ 

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/

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