Amethis MENA Fund II

Location:

Regional

Project number:

51424

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

24 Mar 2021

Status:

Signed

PSD disclosed:

30 Nov 2020

Project Description

An equity investment of up to EUR 20 million in favour of Amethis MENA Fund II S.C.A., SICAV-RAIF (the "Fund").

Project Objectives

The Fund will seek to achieve long-term capital growth by making equity and equity-linked investments, predominantly in small and medium-sized companies in Morocco, Tunisia, Egypt and Jordan.

Transition Impact

ETI score: 72

The EBRD's proposed investment is expected to contribute to the Resilient transition quality by increasing the availability of private equity capital.  Additionally, the project is expected to support the Competitive transition quality by increasing the competitiveness of investee companies.

Client Information

AMETHIS MENA FUND II SCA SICAV RAIF

Amethis Investment Fund Manager S.A. (Luxembourg) is the Alternative Investment Fund Manager (AIFM).

EBRD Finance Summary

EUR 20,000,000.00

Total Project Cost

EUR 150,000,000.00

Additionality

The Bank's participation in the Fund will enable it to achieve a first closing.

Environmental and Social Summary

Categorised FI (ESP 2019).  The client has an Environmental and Social ("E&S") Management System based on IFC's Performance Standards and is a signatory of the Principles for Responsible Investment.  Previous exposure with the client has demonstrated compliance with EBRD's Performance Requirements ("PRs") 2, 4 and 9, as well as compliance of investee companies with national environmental and social standards.  The Fund will have a diversified portfolio of investments for which the environmental and social risk is expected to be low to medium.  The Fund is required to continue to comply with EBRD's PRs 2, 4 and 9, and continue to adopt procedures in line with EBRD's E&S Risk Management Procedures for Active Equity Funds.  The Fund's E&S performance will be monitored regularly through the review of annual reports.

Technical Cooperation and Grant Financing

None envisaged.

Company Contact Information

info@amethis.com
+33 (0) 1 56 68 85 60
https://amethis.com
18 rue de Tilsitt 75017 PARIS

PSD last updated

21 Dec 2020

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.

 

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