Mavin (IFC-45292)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
K’Bang District, Gia Lai Province; Anh Son District, Nghe An Province; Cao Lanh District, Dong Thap
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Feb 15, 2022
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
MAVIN GROUP JOINT STOCK COMPANY
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 Amount (USD)
$ 26.49 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.
Project Cost (USD)
$ 90.60 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 May 11, 2022

Disclosed by Bank Dec 17, 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 the bank's website, "the proposed IFC financing will support the expansion of Mavin’s pig breeding and commercial pig farming capacity and associated working capital requirements." The project aims to support a breeding facility on a 50-hectare footprint with a 12-hectare buffer zone in K’Bang District, Gia Lai Province, a breeding facility with a 30 hectare footprint and a 70 hectare buffer zone in Anh Son District, Nghe An Province, and a breeding facility with a 30 hectare footprint and a 15 hectare buffer zone in Cao Lanh District, Dong Thap Province.

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

The Project is expected to cost US$90.6 million which would be funded by (i) VND1,200 billion (approximately equivalent to US$52 million) in Redeemable Convertible Dividend Preference Shares issued to IFC; and (ii) US$38.6 million of internal cash generation.


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.

Ms. Vu Thi Toan
Public Relations Manager, Mavin Group Joint Stock Company
+84 915 388 988
toan.vu@mavin-group.com
8th Floor, Hudland Building, 6 Nguyen Huu Tho, Hoang Liet Ward, Hoang Mai District, Hanoi, Vietnam
https://mavin-group.com

 

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

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How it works