Original disclosure @ IFC website
Updated in EWS Apr 12, 2023
Disclosed by Bank Oct 21, 2022
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According to bank provided information, the Project consists in the establishment of the IFRIA cold chain platform which will pursue a mix of acquisitions and greenfield assets in the 3rd party temperature-controlled logistics sector across North and West Africa. The 1st round of IFRIA pipeline will consist of (i) two brownfield ventures in Morocco: the acquisition of one bonded facility in the port of Tangier Med and of one other existing TCL operator in the Casablanca area and (ii) three greenfield ventures: one in Agadir (Morocco) and two in Senegal: one bonded facility at the port of Dakar and another at an industrial park some distance from Dakar.
As stated by the IFC, the total costs to finance the 1st round of investments of the IFRIA cold chain platform is estimated to be equivalent to US$72.9 million, of which about $46m will be injected as equity with the rest being sourced as debt from institutions and funds. IFC is expected to invest a 25% stake to support the development of the IFRIA cold chain platform. The Project is expected to be supported by the Finland-IFC Blended Finance for Climate Program as described in the Blended Finance Section.
As stated on the company's website, Ifria is an integrated cold chain company in North and West African markets. Ifria’s mission is to develop new, modern and efficient perishable product storage capacities that can more efficiently serve the growing and rapidly changing needs of the Panafrican markets.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Ifria Cold Chain Development Company||Client||Industry and Trade|
Borrower - IFRIA:
Matthew Meredith - Executive Managing Director Operations, CEO
Email: email@example.com / firstname.lastname@example.org
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