MIGA-Backed Projects Receive Five 'Deal of the Year' Awards
Two MIGA-insured power projects, one mining project, and one telecom project recently took home top "Deal of the Year 2005" honors from industry powerhouses Project Finance and Trade Finance. Vmobile Telecom, Nigeria, was named "EMEA Telecoms Deal of the Year 2005" by Project Finance.
Maritza East I, Bulgaria, also took home Project Finance honors, for "EMEA Power Deal of the Year 2005." Nam Theun 2, Lao PDR, honored by both Project Finance and Trade Finance, received the award for "Asia-Pacific Deal of the Year 2005." The deal was cited by Project Finance as having a significant “diversity of funding and a previously unseen degree of innovation at the ECA and multilateral level that enabled the government of Lao PDR to put together an equity stake in the project.” Last, Bema Gold, Russia, received the big prize from Project Finance, which awarded it "EMEA Mining Deal of the Year 2005." MIGA’s involvement in the project was critical for the financing package, which lenders said would not have been possible without political risk coverage.