Dolidol (IFC-43869)

Countries
  • Morocco
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
Proposed
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 25, 2021
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
Uni Confort Maroc – Dolidol SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
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)
$ 45.23 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 37000000
Converted using 2021-05-20 exchange rate.
Project Cost (USD)
$ 51.34 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 42000000
Converted using 2021-05-20 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 27, 2021

Disclosed by Bank May 20, 2021

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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 provided information, the proposed investment consists of up to EUR37 million senior loan package to Uni Confort Maroc – Dolidol SA (“UCM”, “Dolidol” or the “Company”), a leading manufacturer and distributor of polyurethane (PU) foam and bedding products. The Company was established in Morocco in 1972 by Berrada Sounni Family and expanded its geographical footprint in Cote d’Ivoire in 2014. Dolidol has a 45-years track record and is a trusted and quality provider of bedding products with internationally recognized accreditations (i.e., ISO 45001, ISO 9001, IATF 16949). As of December 31, 2020, Dolidol employs 1,000 people and has a logistic platform (17,000 sqm) and 150 trucks. It sells its products through a network of 1,100 distributors, 50 owned stores and 10 distribution facilities. Dolidol’s investment plans include (i) an acquisition in Nigeria, (ii) a greenfield plastic recycling capex in Morocco and (iii) installation of solar panels (1.25MW) on the Company’s industrial facilities in Morocco (the Project).

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

The cost of the Project is estimated at EUR42 million which IFC will support with a EUR37 million senior loan financing package comprised of up to EUR25 million A loan and up to EUR12 million parallel loan. Within the scope of the Project, IFC’s financing will be directly used to support Dolidol’s expansion in Nigeria and capital expenditures in Morocco.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Uni Confort Maroc – Dolidol SA 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.

Uni Confort Maroc – Dolidol SA
Jalil Skali
CEO
+212-522-918-280
jskali@pid.ma 
Bouazza 20220 Casablanca Morocco
https://www.dolidol.ma/ 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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