According to bank documents, the investment involves provision of a long-term loan of up to USD 100 million, in SAR equivalent, to Almarai Company, a leading dairy and juice producer in Saudi Arabia. The Company is incorporated in Saudi Arabia and listed on the Saudi stock exchange. Proceeds from the Loan will be contributed to Beyti and Teeba, the Company's dairy and juice subsidiaries in Egypt and Jordan, respectively.
Proceeds from the Loan will be used as follows: (i) up to USD 90m equivalent earmarked for Beyti to fund its dairy and juice production capacity expansion and growing working capital needs; and (ii) up to USD 10m earmarked for Teeba, to strengthen its capital base and fund its permanent working capital needs.
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 firstname.lastname@example.org 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.