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Projects

Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
Open-IT SPRL
Project ID
9863
Fiscal year
2012
Status
Not Active
Guarantee holder
MXS SA
Investor country
Belgium
Host country
Burundi
Environmental category
C
Sector
Services
Date SPG disclosed
October 21, 2011
Project Board date
November 03, 2011
Gross exposure
 $0.7 million
Project type
SIP
Strategic priority area
Conflict Affected
IDA

View Summary of Proposed Guarantee


On December 13, 2011, MIGA issued a guarantee of €509,200 ($672,782 equivalent) to Medical Exchange Solution SA (MXS) of Belgium covering its shareholder loan to Open-IT SPRL in Burundi. MIGA’s coverage is for a period of up to 10 years against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project involves the establishment of a greenfield company, Open-IT SPRL (Open-IT). Open-IT will develop and implement health information management systems for health facilities and health-management organizations and deliver technical support and training services. Open-IT will act as a medical information, communication, and technology (ICT) solutions and consultancy service provider for the Burundian health care sector.

The ICT solution will provide knowledge transfer and job opportunities to Burundians and improve the efficiency and cost-effectiveness of hospital operations. It will also support the effective use of scarce medical knowledge in region, through medical information exchange. Data hosted by OpenIT can be used for research, remote diagnosis for medical institutes, remote education for universities, statistics and epidemiological input for local governments, non-governmental organizations, and others.

The project is aligned with the World Bank Group’s Country Assistance Strategy for Burundi, which calls for an improved business environment and stepped-up private sector investment. The project is also aligned with MIGA’s commitment to supporting investments in the world’s poorest countries as well as countries affected by conflict. The project was underwritten through MIGA’s Small Investment Program.

 

 
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