Angel Yeast Egypt (EBRD-49539)

Regions
  • Middle East and North Africa
Where the impacts of the investment may be experienced.
Countries
  • Egypt
Where the impacts of the investment may be experienced.
Specific Location
Beni Sef
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
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 13, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Angel Yeast Egypt
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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, etc.
Investment Amount (USD)
$ 52.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 52.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 3, 2018

Disclosed by Bank Feb 16, 2018


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Project Description

The project involves provision of USD 52 million senior unsecured loan to Angel Yeast Egypt, a fully-owned subsidiary of Angel Yeast Co. Ltd. The loan will be used for the construction of a new yeast extraction plant and a wastewater treatment facility in the city of Beni Sef in Egypt, both located at the Borrower's original site.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Angel Yeast Egypt is one of the leading yeast producers and exporters in Egypt. The parent Angel Yeast China Ltd. is the third largest producer and exporter of yeast in the world and the largest producer of yeast extract.

Contact Information

Angel Yeast Co. Ltd.
Secretary of the Board
Zhou Bangjun
zbj@angelyeast.com

Angel Yeast Co. Ltd.
Securities affairs representative
Gao Lu
gaolu@angelyeast.com

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.