IDJ Beyti (EBRD-46631)

Countries
  • Egypt
Geographic location 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
Active
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
Dec 13, 2017
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
INTERNATIONAL COMPANY FOR AGRICULTURAL INDUSTRIAL PROJECTS JSC BEYTI
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 44.00 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.
Project Cost (USD)
$ 44.00 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 @ EBRD website

Updated in EWS Jan 28, 2019

Disclosed by Bank Nov 10, 2017

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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.

PROJECT DESCRIPTION
Provision of a long-term loan of up to USD 44 million or equivalent in the local currency of Egypt (the "Loan") to International Company for Agricultural Industries Projects (Beyti) JSC (the "Company" or "Beyti"), a company organized in Egypt and active in dairy and fruit juice processing.

PROJECT OBJECTIVES
The Loan will support: (i) refinancing of existing short-term loans used for capex with a longer tenor loan more adapted to the Company's investment program, and (ii) capex investments to expand Beyti's dairy and juice production capacities and distribution network to strengthen its presence in theEgyptian dairy and juice sectors.

TRANSITION IMPACT
The transition impact of the Project is expected to derive from its contribution to the inclusion and competitive qualities, namely supporting the company to: (i) enhance its corporate standards and business conduct through the promotion of equal opportunities policies and practices to increase women's participation in the company's workforce, and (ii) to support market expansion of dairy and juice sectors in Egypt through strengthening backward and forward linkages. This includes increasing production and raw milk and fruit concentrate purchases of the Company from local dairy farms and juice concentrate producers, and expanding logistics coverage of the Company in both sectors by increasing the number of distribution centres and delivery capacity and hence achieving a higher number of sales points in the country.

 

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

International Company for Agricultural Industries Projects (Beyti) JSC is a major dairy and juice producer in Egypt.

The Company is ultimately owned 52% by Almarai Company, one of the largest integrated consumer food producers in the MENA region, headquartered in Saudi Arabia, and 48% by PepsiCo Inc., one of the largest beverage and snacks producers globally.

 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Almarai Company Parent Company -
- - - - International Company for Agricultural Industrial Projects (Beyti) SAE Client -
- - - - PepsiCo, Inc. Parent 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.

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.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.

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