Original disclosure @ IFC website
Updated in EWS Sep 30, 2020
Disclosed by Bank Sep 29, 2020
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According to bank provided information, the proposed investment consists of a US$75 million financing package to Hayel Saeed Anam (HSA or the Sponsor) Group’s food processing operations in Yemen (HSA Foods). The funds will be used to finance the permanent working capital needs of HSA Foods which is producing necessity foods such as flour, sugar and dairy products for local consumption.
Advisory services engagement is being considered in two key areas, namely:
Gender diversity: IFC gender team will also be engaging with HSA Foods to support their plans to increase women participation in the workforce.
The transaction is a US$75 million financing package that consists of a combination of i) an IFC A-loan of up to US$37.5m with a potential B1-loan participation of up to US$18.75m and subject to approval, ii) IDA PSW loans of up to US$50 million which may include a combination of a senior commercial loan and a concessional subordinated loan of up to US$37.5m (blended concessional finance co-investment.) The total funding amount using all sources will be capped to the total project cost of US$75 million.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Hayel Saeed Anam (HSA) Group||Parent Company||-|
|-||-||-||-||National Dairy And Food Company Ltd.||Client||-|
Taiz- Al Houban, HSA manufacturing Complex, Yemen
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