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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
Malagasy Community Network Services S.A. – GasyNet
Project ID
6693
Fiscal year
2013
Status
Active
Guarantee holder
SGS S.A
Investor country
Switzerland
Host country
Madagascar
Environmental category
B
Sector
Services
Date SPG disclosed
March 20, 2013
Project Board date
April 18, 2013
Gross exposure
 $2.9 million
Project type
Non-SIP
Strategic priority area
IDA
ESRS
Environmental and Social Review Summary for Malagasy Community Network Services S.A. – GasyNet

View Summary of Proposed Guarantee


Project Description

On April 26, 2013, MIGA issued a guarantee of $2.9 million to SGS S.A. of Switzerland covering its loan guarantee to BNI-Madagascar for its loan to Malagasy Community Network Services S.A. – Gasynet in Madagascar. The coverage is for a period of up to 12 months against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract.

The project involves the provision of import and export good verification and the deployment of TradeNet software application to the government of Madagascar. The MIGA coverage is for an existing project approved by MIGA’s Board of Directors in October 2007.

MIGA’s continued support for the project will help to improve port governance and transparency of the country’s trade transactions. The project is also consistent with MIGA’s strategic priority of supporting investments into countries eligible for concessional financing from the International Development Association.

 
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