Toters (IFC-45171)

  • Lebanon
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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
Sep 24, 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.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 5.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 29, 2022

Disclosed by Bank Aug 23, 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, IFC is considering an equity investment of US$5 million in Toters. The funding will primarily be used to expand the Group’s operations in Iraq.  

Toters (or “the Company”) is a leading on-demand application (app) based delivery platform in Lebanon and Iraq. The company was launched in 2017 in Lebanon and offers grocery, food, and convenience product delivery for more than 2,000 partner stores that include restaurants, coffee shops, bakeries, grocery stores, electronic stores, para-pharmacies, and flower shops. Toters’ product lines include: (i) Toters Marketplace offering delivery of a range of food products and goods from partner stores; (ii) Butler: a service that buys, picks up, and delivers goods such as documents and gifts on demand; (iii) Toters Fresh comprising of dark stores (warehouses) that cater to online grocery orders; and (iv) Delivery-as-a-Service (DaaS): a business to business (B2B) add-on service that enables partner stores to deliver goods via Toters’ couriers. Toters operates in rented offices in Lebanon and runs warehouses in both countries. Deliveries are undertaken through couriers, most of them providing their services as independent contractors. While couriers mostly provide their own vehicles, Toters facilitates the outsourcing of bikes for couriers that do not have access to a bike.

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

Proposed IFC equity investment of up to US$5 million as part of the Series B financing round to fund the Group’s expansion in Iraq.

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 2017, Toters (“TAN (Holding), Sal” or the “Company”) is an on-demand delivery platform operating in Lebanon and Iraq. The Group offers grocery, food, and convenience product delivery from a wide variety of more than 2,000 partner restaurants, coffee shops, bakeries, grocery stores, electronic stores, para-pharmacies, and flower shops, etc. via a Toters’ network consisting of thousands of couriers.

Toters was founded by Tamim Al Khalfah, who currently serves as the CEO, and Nael Halwani, who currently serves as the COO. Existing shareholders in the Company include March Holding, B&Y Venture Partners, and Middle East Venture Partners.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Toters SAL 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.

Attention: Toters Legal Department 
1st Floor, Zardman Building, Jal El Dib Main Road, Jal El Dib, Lebanon 


You can submit a request for information disclosure at: 

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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 You can learn more about the CAO and how to file a complaint at 

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How it works