The proposed investment is up to US$12 million loan to Al Quds for Development PSC (the “Borrower”), the holding entity of the Luminus Group to help the Company weather the liquidity pressure it is facing as a result of the COVID-19 outbreak. The proposed investment would strengthen the financial structure of Luminus and support its growth in Jordan during the time of COVID-19 crisis (the Project).
This is corporate loan comprising of an IFC investment of up to US$12 million.
Luminus Group (“Luminus” or the “Group”) is a Jordan-based, for-profit, Technical Vocational Education and Training institute (TVET) headquartered in Amman, Jordan. The Group’s education activities, including IT platform, focus on media, food services and retail as the key segments of its vocational training/ courses. . Luminus Group currently has 4 campuses including:Luminus Technical University College (LTUC) AmmanLuminus Technical University College (LTUC) IrbidLaval Academy for Beauty Arts and Sciences AmmanM Academy Amman LTUC has three main subsidiaries of Education, Media, and Trading and Services.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Luminus Group||Parent Company||-|
Al Quds for Development PSC
Mr. Ibrahim Al Safadi
Marj Al Hamam Bridge, Airport Road, Amman 11118, Jordan
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/