VACPA

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The proposed investment consists of a EUR10 million senior loan to Boudjebel S.A. VACPA, a Tunisian date processor and exporter in Tunisia (“VACPA” or the “Company”) to be committed in two tranches. IFC’s first tranche will finance much needed working capital to support Company’s operations during the COVID-19 crisis and the second tranche will be used to (i) establish a production unit for date juice concentrate and (ii) upgrade its existing processing unit and (iii) upgrade supply chain improvement program (PASA), (the “Project”). Founded in 1983 by Mr. Mohsen Boujbel (the “Sponsor”), VACPA processes the collection, packaging and export of organic and conventional dates. VACPA is the largest date exporter in Tunisia, with 10% market share in volume and 12% market share in total value as of FY19. With over 1,600 employees and an access over 1,000 farmers, the Company serves c.100 clients globally across N. America, Western and Central Europe and South-East Asia. VACPA has been the first Tunisian agribusiness company to be certified ISO 9001 (Quality Management) in 1998 and also holds several international certifications in food and environment safety including IFS, BRC, ISO 22000 (Food Safety Management), ISO 14001 (Environmental Management) and Global GAP.