CnC-Entobel (IFC-46903)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ba Ria, Vung Tau Province
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
Active
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 23, 2023
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
Entobel Holding Pte Ltd
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 2.50 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)
$ 32.50 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.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 8, 2023

Disclosed by Bank Apr 7, 2023

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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.

As stated by the IFC, the project consists of an Upstream Collaboration Agreement to prove the commercial viability and cost competitiveness of insect production at an industrial scale by supporting the establishment of a 10,000 MT industrial insect feed plant in Vung Tau Province, Vietnam.

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

As stated by the IFC, the total project cost amounts to $32.5mn and is co-funded by Mekong Capital and Dragon Capital, who are contributing US$25mn and US$5mn respectively.

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.

As stated by the IFC, Entobel [is] a Singapore-based biotech company, [that] rears the Black Soldier Fly species to produce insect protein as a feed ingredient primarily for the aquaculture industry, as a cost competitive, more sustainable replacement of fishmeal. 

Incorporated in 2016, Entobel Holdings PTE [operates] one factory in Dong Nai Province, Vietnam, with a production capacity of 1,000 metric tons (MT)/year of powdered larvae for use in aquaculture feeds.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Dragon Capital Group Limited Investor Finance
- - - - Entobel Holding Pte Ltd Client Agriculture and Forestry
- - - - Mekong Capital Investor Finance

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.

No information available at the time of disclosure.

Entobel Holding Pte Ltd:

Addresses -
Vietnam Office: 130, B2 Street, An Loi Dong Ward, Thu Duc City, HCMC
Vung Tau: Lot 05, Street N3, Dat Do I IZ, Phuoc Long Tho Ward, Dat Do District, Ba Ria – Vung Tau,  Vietnam
Email: info@entobel.com
Website: www.entobel.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

How it works

How it works