Al Dahra Morocco (EBRD-50406)

Countries
  • Morocco
Geographic location where the impacts of the investment may be experienced.
Specific Location
Fez-Meknes
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Proposed
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
Nov 13, 2019
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
Al Dahra Morocco & Al Dahra Morocco Factories
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 Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 5.67 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.
Currency conversion note:
Bank reported MAD 55,000,000.00
Converted using 2019-10-10 exchange rate.
Project Cost (USD)
$ 5.67 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.
Currency conversion note:
Bank reported MAD 55,000,000.00MAD 55,000,000
Converted using 2019-10-10 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 2, 2020

Disclosed by Bank Oct 10, 2019

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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 documents, the investment involves, provision of up to MAD 55m (EUR 5m equivalent) long-term loan to Al Dahra Morocco ("ADMO") and Al Dahra Morocco Factories ("ADFAC"), two companies organised in Morocco. The Co-Borrowers are owned by Al Dahra Holding, a leading global agribusiness player, headquartered in Abu Dhabi, United Arab Emirates, and specialised in the cultivation, production and trading of animal feed and essential human food commodities such as rice, flour, fruits and vegetables.

Proceeds from the Loan will enable the Co-Borrowers to finance the construction and commissioning of a new olive oil factory in the Fez-Meknes region in Morocco, for a total cost of up to MAD 55m (EUR 5m equivalent). The Project will enable Al Dahra to leverage on their existing olive farms in the Fez-Meknes region and aggregate other olive farmers in the region, to integrate downstream into production of olive oil mainly targeting the export market.

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.

ADMO and ADFAC are dedicated to the farming and production of fruits and olives and will start shortly the production of olive oil.

Al Dahra Holding is a global agribusiness player, founded in 2005 with headquarters in Abu Dhabi, UAE. The Group has significantly grown since to become one of the largest global producers of alfalfa (main forage for livestock) and to diversify further into grains, rice, and fruits and vegetables production and trading. As a result, the Group has now presence in more than 20 countries and a global workforce of 5,000 employees.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Al Dahra Holding 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.

Gianluca Elmosi
gianluca.elmosi@aldahra.com
+971 2 656 5078
+971 2 656 5078
www.aldahra.com
Al Ain Tower, 130455, Abu Dhabi, UAE

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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How it works