Where the impacts of the investment may be experienced.
Location: Industrial zone near Yangon
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.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
- International Finance Corporation (IFC)
Bank Risk Rating: B
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: 2016-10-31
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: BEL GA MYANMAR LTD
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD): $ 7.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Do you have more information on
this project, or want to get involved?
Bel Ga Myanmar
IFC is considering an investment in Bel Ga Myanmar to support the construction of a new parent stock (PS) breeding farm with a capacity of 96,000 PS and a new hatchery facility with a capacity of 12 million DOCs per annum in Myanmar.
The company is in the process of identifying the land required for the project in a suitable industrial zone near Yangon. The total land requirement for the breeder farm and the hatchery is expected to be 12 ha, and will be leased from the industrial estate authority or purchased outright from a private seller using a market-based willing buyer/willing seller transaction. The breeder farm and the hatchery is expected to be operational by May/2017.
OVERVIEW OF IFC'S SCOPE OF REVIEW
Since the project in Myanmar is at a very early stage, and the location/land is not yet finalized, IFC's environmental and social (E&S) review of this investment focused on the company's existing operations in Vietnam; it is expected that the company will largely replicate those operations for the proposed development in Myanmar.IFC, therefore, reviewed (i) the project development and implementation plans submitted by the sponsors for Bel Ga Myanmar; and (ii) technical, environmental, health and safety (EHS) related information for Bel Ga Vietnam, including: regulatory permits and licenses, operational policies and procedures; organizational charts; operational details about the company's existing operations; EHS, food safety and human resource (HR) policies and procedures; EHS related monitoring records; layout drawings and technical designs for the proposed expansion project.The appraisal also included site visits to PS breeding farm in Loc Quang and the hatchery in Bao Loc city; and discussions with Bel Ga Vietnam's senior management and technical teams at their office in Bao Loc city.
- International Finance Corporation (IFC)
Bel Ga Myanmar Limited (“Bel Ga Myanmar”) is a greenfield hatchery and breeding company to be established in 2016 under the laws of Myanmar. Bel Ga Myanmar will build and operate a poultry breeding farm capable of accommodating 96,000 hens and a hatchery facility with an annual capacity of 12 million day-old-chicks (“DOCs”) (the “Project”). The purpose of the Project is to supply Myanmar farmers with high quality DOCs and help address the rapidly growing demand for poultry products in the country.
The total Project cost is estimated at US$10.5 million which will be financed by a combination of equity and long term debt. The proposed IFC investment for Bel Ga Myanmar is a US$6.5 million A Loan for IFC’s own account.
Kay De Vreese
Bel Ga JSC
Loc Son Industrial Zone, Bao Loc City,
Lam Dong Province, Vietnam
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/
Other Related Projects