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The Wave of the Future: Capital Markets Financing for Infrastructure Projects
(This article originally appeared in the 2006/2007 Project Finance Yearbook.) Matching cash-rich institutional investors with promising infrastructure projects in need of a deeper financing pool creates the proverbial win-win situation, particularly in the developing world, where demand is strong but debt financing is expensive. Increasingly, governments and their private partners are turning to...
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Bouncing Bonds
(This article originally appeared in Latin America Report, Project Finance Magazine, July/August 2006.) Latin America has one of the more optimistic investment outlooks in recent memory. Several stock markets in the region have registered record returns, and rapid growth is contributing to rising tax revenues. Inflation, interest rates, government deficits, exchange rate, and sovereign risk premiums are all down...
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Japanese Grant Enables MIGA to Help Investors Address Environmental and Social Challenges in Africa
MIGA recently announced that the Japanese government is providing a $1 million grant that will permit the agency to launch a pilot facility to help foreign investors address environmental and social challenges in Africa. The program will later be expanded if the model proves successful...
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New Project Targets Port Security in Sierra Leone
Sierra Leone’s ports received a security boost with a recent $3 million investment in scanning equipment and services by UK investor Intertek International Limited. The investment was guaranteed by MIGA, which provided $5 million in insurance against the risks of currency transfer restriction, expropriation, and war and civil disturbance for a period of up to ten years.
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Guinea-Bissau Joins MIGA
Guinea-Bissau recently became MIGA’s newest shareholder, bringing the agency’s total membership to 168. The membership enables eligible foreign companies seeking to invest in Guinea-Bissau to receive MIGA’s guarantee coverage, which protects investments against the risks of transfer restriction, expropriation, breach of contract, and war and civil disturbance (including terrorism). Investments from Guinea-Bissau going into other developing countries may also receive coverage.
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NEW
CONTRACTS
Agribusiness
R. S. Chatthe, Industrial Development Corporation of South Africa Limited, Kenya, $6.7M
MILLco Limited, Uganda, $2.97M
Agro-Industries Sud S.A., Burkina Faso, $6.1M
Financial Corporaciόn Interfin S.A., Nicaragua, $1.9M
Raiffeisenbank a.s., Serbia and Montenegro, €47.5M
Infrastructure Abengoa S.A., Uruguay, $0.57M
Ericsson Credit AB, Nigeria, $45M
Services SGS Société Générale de Surveillance S.A.,
Nigeria, $26M
Cotecna S.A., Nigeria, $54.9M
Intertek International Limited, Sierra Leone, $5M
Tourism
Louvre International Ltd., Madagascar, €1.8M Proparco, Ghana, $3.5M
EVENTS
Client Breakfast, World
Bank/IMF Annual Meetings, Singapore, Sept. 18,
2006
MIGA is co-sponsoring The Asian Political Risk
Insurance, Trade Credit Insurance, Project, Trade and Commodity
Finance Summit – 2006, Bangkok, Oct. 19-20,
2006
The Fifth Biennial MIGA-Georgetown
Symposium, International Political Risk Management: Meeting the
Needs of the Present, Anticipating the Challenges of the Future,
Washington, DC, November 3, 2006
RELATED
LINKS About MIGA
Project
briefs Sector
briefs Investment
Guarantee Guide Guarantee
application 2006 Annual Report
Press
Releases PSD
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