KTDA ICD (IFC-41498)

Countries
  • Kenya
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
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
Jun 17, 2019
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
KENYA TEA DEVELOPMENT AGENCY HOLDINGS LTD
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 Amount (USD)
$ 10.00 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)
$ 17.70 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 Jun 28, 2019

Disclosed by Bank May 17, 2019


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Project 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

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
  • International Finance Corporation (IFC)
Contact Information

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/