Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Zambia
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Proposed
Bank Risk Rating: A
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.
Board Decision Date: 2017-03-30
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 or Client: Metalco Industries Limited
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-09-23
Disclosure Date: 2016-10-13
Metalco Industries Limited
IFC-33340

Project Description
IFC is considering a $10 million loan to the company to support Metalco’s proposed expansion across the different activities. The expansion plans involve increasing production across all activities, particularly relative to copper and electrical cables from the copper beneficiation plant and copper cable plant respectively; lead batteries; steel mill balls and billets; aluminum household products; and craft and tissue paper. The expansion activities will be implemented by Metalco with input from specialist engineering companies as appropriate. IFC’s investment will also be used to finance environmental upgrades and an advisory program noted below.
Investment Description
Contact Information
ACCOUNTABILITY MECHANISM OF IFC 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/
Bank Documents