Nile Sugar (IFC-51860)

Countries
  • Egypt
Geographic location where the impacts of the investment may be experienced.
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
Approved
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
Apr 8, 2026
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
Nile Sugar Company S.A.E
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 Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.00 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 Jun 10, 2026

Disclosed by Bank Mar 9, 2026

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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 bank provided information, the proposed investment is an up to $40m senior loan, with $20m being for IFC’s own account and $20m mobilized, to Nile Agriculture Company S.A.E. (“NAC”), to be guaranteed by Nile Sugar Company S.A.E. (“NS” or the “Company”, and together with NAC, the “Obligors” or “NSG”. NS, founded by the Sawiris family (the “Sponsors”) in 2006, is a leading Egyptian beet sugar refinery producing white sugar and its by-products, including molasses and beet pulp. IFC’s loan will be used to finance the development of 13,711 feddans (5,760 hectares) land in Minya, Egypt to cultivate sugar beet and improve its supply chain sustainability, together with required relating infrastructure, machinery and equipment, and working capital (the “Project”). The Project will directly and indirectly help address increased sugar consumption in Egypt through local production vs. imports.

 

IFC investment is a USD 40mn senior loan, of which USD 20mn OA and USD 20mn mobilized, with a 7-year tenor, including a 3-year grace period to Nile Sugar Company (S.A.E) (the "Company" or “NS”). Founded by the Sawiris family (the “Sponsors”) in 2006, the company is an Egyptian beet sugar producer with refinery operations producing white sugar and its by-products, including molasses and beet pulp commencing in 2009. IFC’s loan will finance (i) the development of 13,711 feddans (5,760 hectares) of agricultural land in Menya, Egypt for sugar beet cultivation, including related infrastructure, machinery, equipment, operating expenses. These plots are located within a larger reclamation project of 4 million feddans (1.68 million hectares) managed by Egyptian Countryside Development Company, a collaboration between the ministry of finance, agriculture and land reclamation and the ministry of housing development. The reclamation project aims to meet Egypt’s national 2030 target to develop sustainable, agriculture based communities on reclaimed land through integrated planning aligned with international best practices. Both land plots in Menya are currently under reclamation to cultivate sugar beet and improve its supply chain sustainability, together with related infrastructure, machinery and equipment, and working capital, to purchase sugar beets from smallholder farmers, including advances and input financing (the “Project”). The sugar refinery is considered an associated facility for the supplier farms from which it almost exclusively sources sugar beet.The sugar refinery is in a semi-industrial area allocated for its nature of business and separated from nearby residential communities. It is located 350km from the land plots in Menya. The Project will directly and indirectly help address increased sugar consumption in Egypt through local production vs. imports.

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

 IFC’s own account exposure is US$20 million within a total financing package of US$40 million to be utilized to finance NAC’s US$68.5 million investment program.

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.

NS is a well-established Egyptian joint stock company engaged exclusively in sugar production within Egypt. Its main shareholders, Mr. Naguib Sawiris and Mrs. Yousriya Loza who, own, directly and indirectly, 99.6% of the 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.

Nile Sugar
Ema Farid
CEO
+202 33086030
efarid@nilesugar.com
162-B July 26th St., El Agouza, Cairo, Egypt
https://nile-sugar.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 

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How it works