SUMMARY OF PROJECT INFORMATION (SPI)
Project Name : Guinea-Hamdallaye
Region : Sub-Saharan Africa
Sector : Private Education
Project No : 008921
Projected Board Date : July 1, 1998
Company Name : Hamdallaye
Technical Partner/ Major Shareholders: Mr. Aboulaye Wann, who owns 100% of Hamdallaye, is the main project sponsor. He started a primary school in 1994 which has been very successful and is now planning an expansion into secondary education.
Project Cost Including Proposed IFC Investment: Total project cost is estimated at US$0.21 million equivalent. IFC has been asked to provide a loan guarantee of US$0.1 million equivalent representing 50% of total project cost.
Location of Project and Description of Site: The school complex is located in Ratoma, a commune of Conakry. Total size of the land on which the secondary school complex will be built is 1,235 square meters.
Description of the Company and Purpose of the project: The project sponsor wants to create an integrated private school complex in Ratoma, the second largest commune of Conakry with an estimated population of 213,000 inhabitants, that would provide quality education to young guineans in secondary school attendance age. Mr. Abdoulaye Wann, opened a primary school called “Hamdallaye primaire” in October 1994 with 4 classrooms. Today, “Hamdallaye primaire” has 12 classrooms and a student body of 330 pupils. Thanks to its innovative approach which lead to : a) the introduction of computer training and English in the primary school; b) built in services such as transportation and lunch at school; and c) in house training programs for teachers, Hamdallaye has set new standards of excellence and has attracted pupils as far away as outside the Ratoma commune. The purpose of this project is therefore to support the establishment of a full fledged secondary school that would operate on the same basis of excellence.
IFC Role: IFC is instrumental in moving the deal forward. The school has in the past benefited from a small loan from a UNDP financed program however this expansion is a larger size project. Local banks, although they considered the sponsor to be a serious individual, were lukewarm in going ahead and financing a school due to the lower returns in this sector. IFC’s involvement in the deal has made it possible to get BICIGUI interested in the project and secure long-term financing crucial to this activity. This SEF investment in Guinea will serve as a catalyst for other enterprises and provide example value to a sector which is a high priority on governments agenda.
Environmental Category and Issues: This is an environmental review category B project. Environmental, health and safety issues include treatment and disposal of sewage; waste/garbage management and disposal; hazardous chemicals use, storage, and handling; and fire protection and life safety. Sanitary effluents will be stored in an underground tank and periodically removed for ultimate delivery to an authorized municipal treatment and disposal facility. Solid wastes will be collected in bins located thoughout the school, which, in turn, will be emptied for disposal at the local authorized municipal dump. No Ozone Depleting Substances (e.g., CFCs) will be used on the premises. All hazardous chemicals will be stored in clearly labeled containers, properly segregated, and stored in a manner that will prevent accidents and release to the environment. Adequate fire protection and life safety measures will be provided.
The Environmental Review Summary will be available from the Public Information Center.
Date SPI sent to PIC June 1, 1998
This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.
For additional information contact : Corporate Relations Unit -
Telephone : (202) 473-7711
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