Agrobiotech AS Project (IFC-606668)

Countries
  • Mali
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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Jan 30, 2022
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
Agrobiotech AS
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)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.24 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 6, 2023

Disclosed by Bank Feb 3, 2022

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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, IFC will provide guidance to Agrobiotech on developing its capabilities and implement high-quality management systems which will help the Client’s business processes and guarantee high-quality seeds and seedlings to its customers. Agrobiotech is a Malian commercial agriculture laboratory established in 2016 to multiply plants for mass and intensive production using in-vitro technology without any genetic modification. The main agricultural products include pineapple, banana, cassava, sugar cane, potatoes, flowers, etc. Agrobiotech is the only lab in the region with this type of expertise and it is now looking to scale up its operations to reach more producers in the West African region where the seed market is estimated at around 1.6 billion Euros.

The proposed project will provide recommendations to the Client which will strengthen its business operations, help in building a spotless reputation and guarantee the quality of its products by achieving international quality standards. The project will also provide business plan validation guidance which will help to unlock potential IFC investment in the future.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The project seeks to provide recommendations to Agrobiotech on 1) implementing a high-quality laboratory information management system, 2) attaining ISO 9001 which will help Agrobiotech to guarantee high-quality seeds and seedlings to its customers, and 3) finalize its business plan which will help to assess future IFC investment in the company. The expected outcome is that the Client will validate its business plan, implement a Laboratory Information Management System (LIMS) and attain ISO 9001 certification.

Agrobiotech is an innovative commercial biotechnology laboratory in Mali. Despite the many challenges linked to the country's complexity and ongoing pandemic, the company has a lot of potentials to unlock the agriculture sector in Mali and in the West African region. This advisory services project will help the company to improve its business operations and quality management gaps.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Agrobiotech AS Client -

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.

No contact information provided at the time of the disclosure.

ACCESS TO INFORMATION

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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