OPIC Approves $18.9 Million Loan for Wengeorgia Originated by WFC

The WFC team worked on the pre and final application documentation, facilitated the due diligence process as well as assisted Wengeorgia in the entire process of cooperation with OPIC. 

The project involves the establishment and operation of a chain of up to 22 Wendy’s branded franchise restaurants throughout the country of Georgia. 

This Project will have a positive developmental impact on Georgia. The Project will have strong human capacity building impacts by creating hundreds of new local service jobs. These new employees will receive training in customer service and various technical tasks. Some restaurant managers will be sent to the U.S. for training in restaurant operations and business development. Local suppliers will greatly benefit from this Project since many food and drink items will be sourced locally. Wendy’s International provides its franchisees with all the necessary assistance to run its franchise restaurants, including management training, marketing plans and materials, production technology and quality assurance programs. Finally, the Project will benefit local construction contractors since it involves the construction of several new restaurants. 
 
The project has been reviewed by OPIC’s categorical prohibitions and has been determined to be categorically eligible. Construction and operation of retail food chains are screened as Category B projects under OPIC’s environmental and social guidelines because impacts are site specific and readily mitigated. 

OPIC’s statutorily required standard worker rights language will be supplemented with provisions concerning the rights of association, organization and collective bargaining, minimum age for employment, hours of work, the timely payment of wages and hazardous work situations.  Standard and supplemental contract language will be applied to all workers of the Project.    

OPIC issued a human rights clearance for this project on December 4, 2012.

For the details of the transaction please click here

29.07.2013


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