Benin Terminal (IFC-48522)

Countries
  • Benin
Geographic location where the impacts of the investment may be experienced.
Specific Location
Port of Cotonou
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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 4, 2024
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
Benin Terminal
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
  • Transport
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)
$ 21.69 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 20
Converted using 2024-04-05 exchange rate.
Project Cost (USD)
$ 179.46 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 165.5
Converted using 2024-04-05 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 16, 2024

Disclosed by Bank Apr 5, 2024

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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, Benin Terminal (“BT” or the “Company”), the concessionaire of the container terminal of the port of Cotonou (the “Port”), has embarked on a EUR 165.5 million investment plan to upgrade its terminal and purchase new equipment (the “Project”). This Project is embedded in the wider expansion program of the Port under the coordination of Port Autonome de Cotonou (“PAC”), the state-owned entity in charge of the management and development of the Port.The initial concession between BT, PAC and the State of Benin was signed in 2009. In July 2022, as part of the PAC expansion program, the parties signed a new concession of 27 years.                                                   

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category A project as per IFC’s Policy on Environmental and Social Sustainability as the projects’ AFs have the potential to cause significant adverse E&S risks and/or impacts that are diverse, irreversible, or unprecedented. Key E&S aspects include: (i) coastal erosion exacerbation, (ii) temporary impacts linked to the harbor extension works (considered an Associated Facility per IFC PS1) during construction related to (i) critical habitat and marine biodiversity and (ii) temporary movement disruptions of artisanal fishing boats due to dredging of access channel; (iii) developing ESIA for future works by BT aligned with the IFC PS; (iv) air emissions, waste and wastewater, hazardous materials management; (v) traffic management; (vi) grievance redress mechanism; and, (vii) cumulative impacts from the broader port modernization activities by PAC. 

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

The total project cost is estimated at EUR 165.5 million. IFC is considering providing an A Loan of up to EUR 20 million. The remaining amount of debt is to be funded in local currency (XOF) by commercial banks. 

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.

Benin Terminal is indirectly wholly owned by Africa Global Logistics (“AGL”, the “Sponsor”), ex-Bolloré Africa Logistics renamed following its acquisition by MSC in December 2022 via Shipping Agencies Services Sarl (SAS). AGL boasts an expansive footprint with a primary emphasis on the African continent where it is operational in 49 countries and has over 23,000 staff.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Africa Global Logistics Parent Company -

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.

Benin Terminal
Pierre Bouillot
CFO
+229 21 36 83 11
pierre.bouillot@benin-terminal.com
RUE 230, ILOT 2287 PARCELLE « A » QUARTIER ZONGO EHUZU01 BP 433 – COTONOU - BENIN
https://benin-terminal.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