Ramex (IFC-41633)

Countries
  • Madagascar
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 25, 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
RAMANANDRAIBE EXPORTATION SA
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 12, 2019

Disclosed by Bank May 24, 2019


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Project Description

The Project investment involves providing an export pre-financing facility to Ramanandraibe Exportation (“Ramex”) for the purchasing and processing of vanilla beans for exports to international offtakers.

Investment Description
  • International Finance Corporation (IFC)

IFC, acting for its own account and in its capacity as implementing entity of the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP), is considering investing up to $10.5m in a 3-year short-term export pre-financing facility with annual clean up.

Private Actors

Ramex was founded in 1973 and is part of the Ramanandraibe Group, itself established in 1927. It is one of the country’s historical and major vanilla exporters.

Ramex facilities are located in six cities: Sambava, Antalaha, Ambanja, Andapa, Maroantsetra, Mananara Nord, but all conditioning and packing is done in two centers: Antalaha or Sambava in the SAVA Region, north-eastern Madagascar.

Contact Information

Ramanandraibe Export 
Hanta RAJAONERA 
Chief Executive Officer 
00261202222044 ces&commodities@ramex.mg
24 Rue Ratsimilaho BP 4164 Antananarivo, Madagascar

24 Rue Ratsimilaho BP 4164 Antananarivo, Madagascar   

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