VACPA (IFC-42698)

Countries
  • Tunisia
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
Approved
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 10, 2020
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
Boudjebel S.A. VACPA
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 Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 6.12 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.
Currency conversion note:
Bank reported 10
Converted using 2020-04-30 exchange rate.
Loan Amount (USD)
$ 6.12 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 22, 2021

Disclosed by Bank Apr 30, 2020

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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.

According to bank documents, the proposed investment consists of a EUR10 million senior loan to Boudjebel S.A. VACPA, a Tunisian date processor and exporter in Tunisia (“VACPA”) to be committed in two tranches. IFC’s first tranche will finance much needed working capital to support Company’s operations during the COVID-19 crisis and the second tranche will be used to (i) establish a production unit for date juice concentrate and (ii) upgrade its existing processing unit and (iii) upgrade supply chain improvement program (PASA).

This project or financing is part of IFC's COVID-19 response, as stated on the IFC website. You can find additional information at: https://www.ifc.org/wps/wcm/connect/news_ext_content/ifc_external_corporate_site/news+and+events/covid-19/covid-19-projects.

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

The proposed IFC financing amounts to EUR10 million. Within the scope of the Project, IFC’s financing will be directly used to support VACPA’s capital expenditures and working capital needs in Tunisia.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Founded in 1983 by Mr. Mohsen Boujbel (the “Sponsor”), VACPA processes the collection, packaging and export of organic and conventional dates. VACPA is the largest date exporter in Tunisia, with 10% market share in volume and 12% market share in total value as of FY19. With over 1,600 employees and an access over 1,000 farmers, the Company serves c.100 clients globally across N. America, Western and Central Europe and South-East Asia. VACPA has been the first Tunisian agribusiness company to be certified ISO 9001 (Quality Management) in 1998 and also holds several international certifications in food and environment safety including IFS, BRC, ISO 22000 (Food Safety Management), ISO 14001 (Environmental Management) and Global GAP.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Boudjebel S.A. VACPA Client -

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.

Boudjebel VACPA SA
Mohsen Boujbel
Chief Executive Officer
(+216) 72 292 133
contact@boudjebeldates.com
Boudjebel SA VACPA, Route de Menzel Bouzelfa 8021 Beni Khalled, Tunisia
Website: https://www.boudjebeldates.com/en/ 

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/

How it works

How it works