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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
Barlows Equipamentos Companhia Limitada
Project ID
336
Fiscal year
1999
Status
Not Active
Guarantee holder
Barlows Tractor International Limited
Investor country
United Kingdom
Host country
Angola
Sector
Manufacturing
Gross exposure
 $18.5 million
Project type
Non-SIP

MIGA coverage totaling $18.5 million was issued to Barlows Tractor International Limited of the United Kingdom for its shareholder loan and equity investment in Barlows Angola. The guarantee covers the investments against the risks of transfer restriction, expropriation, and war and civil disturbance. Barlows Angola will establish an exclusive dealership, including a showroom, warehouse, administrative offices, and a repair and maintenance workshop for power generation and forklift equipment at the Luanda Sul Industrial site, south of the capital city Luanda. The project will have a significant impact on the supply of Angola's construction equipment. Local companies will be involved in the design and construction of the dealership and housing for its employees. It is anticipated that $6.2 million of goods and services will be procured locally during operation. Barlows Angola will provide employment and technical skills training programs for about 150 Angolan nationals. Moreover, it will maintain an on-site medical clinic and provide scholarships to local staff and their families.

 
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