AEF Bawan Roses (formerly Island Farm)

completed

SUMMARY OF PROJECT INFORMATIONProject Name Kenya-Island Farm LimitedRegion Sub-Saharan AfricaSector AgribusinessProject No 005142Company Name Island Farm LimitedLocation of Project and Description of Site Located on a 170 Ha. coffee estate 50 km north of Nairobi.Projected Board Date July 1, 1995Description of Company and Purpose of Project A new company formed specifically to develop the cutflower project. The project will establish a 3 Ha. roses farm for export of cut flowers to Europe. It will export up to 5.7 million stems per annum at full production.Technical Partner and/or Major Shareholders The project does not have a technical partner. Its shareholders are: Mr. Joseph Wanjui Mrs. Wanjui Bawan Holdings Ltd. (Family Company)Project Cost and proposed IFC Investment Project Cost: US$1.5 million equivalent IFC Investment-Loan: US$500,000Environmental Categories and Issues This is an environmental category B project. Key issues associated with this project include pesticides handling and application, water supply, CFCs, provision of protective equipment and training, and disposal of used pesticides containers. The sponsors have submitted a management plan addressing the issues listed above and have committed to comply with all applicable World Bank and local guidelines. An ERS, summarising the sponsor''s management plan and key mitigative measures will be released to the PIC on June 7, 1995.Date SPI sent to PIC: June 5, 1995For additional Information contact: Corporate Relations UnitTelephone: (202) 473-7711 Facsimile: (202) 676-0365.Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).