Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Egypt
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Cancelled
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: 2016-10-18
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: KUWAIT ENERGY INTERNATIONAL 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.
  • Climate and Environment
  • Energy
Investment Amount (USD): $ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2018-01-03
Disclosure Date: 2016-10-18
Kuwait Energy Loan
EBRD-48380

Project Description
The EBRD considered providing a reserve-based loan of up to USD 100 million to Kuwait Energy International Limited ("KEI" or "the Company"), a subsidiary of Kuwait Energy PLC, an oil and gas exploration and production company with its regional operational hub in Kuwait, to finance its operations at the Abu Sennan, Area A, Burg El Arab and East Ras Qattara fields in Egypt. The Project would support the development of KEI's Egyptian operations including measures and investments in associated petroleum gas flaring prevention and recovery.
Investment Description
Private Actors
Contact Information
Roger Phillips, Chief Financial Officer (+ 965) 257 677 00 / 257 677 01 / 257 677 02 www.kuwaitenergy.co 5th Floor, Symphony Tower 2; Salem Al Mubarak Street, Salmiya, Kuwait. P.O. Box 5614, Salmiya 22067 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.
Bank Documents