DFF - IFFCO Working Capital (EBRD-51179)

Countries
  • Tunisia
Where the impacts of the investment may be experienced.
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
Mar 23, 2021
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
Compagnie Generale des Industries Alimentaires
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
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)
$ 7.26 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)
$ 7.26 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 20
Converted using 2021-03-23 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 8, 2021

Disclosed by Bank Mar 30, 2021


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Project Description

According to bank provided information, the project involves the provision of up to TND 20,000,000 working capital loan to Compagnie Generale des Industries Alimentaires ("COGIA" or the "Borrower") to support its olive oil procurement and bottling operations in Tunisia (the "Project"). The Borrower is one of the few leading olive oil companies in Tunisia exclusively focusing on export of bottled olive oil, and 100% owned by one of the leading agribusiness groups in the MENA region, IFFCO Group, headquartered in Dubai, United Arab Emirates.

 

Investment Description
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Compagnie Generale des Industries Alimentaires Client -

Contact Information

Moez Zid, CFO
mzid@iffco.com 
+216 97 696 362
+216 73 306 266
Compagnie Generale des Industries Alimentaires - COGIA SA Route de Moureddine, km 3.5, Sousse, Tunisia, 4000

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request 

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 at: 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