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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
Desco Angola Lda.
Project ID
4105
Fiscal year
2001
Status
Not Active
Guarantee holder
Desco A.B.
Investor country
Sweden
Host country
Angola
Sector
Services
Gross exposure
 $1.0 million
Project type
Non-SIP

MIGA is providing a $1 million guarantee to Desco A.B., a Swedish construction company. The guarantee covers an equity investment in Desco Angola Lda. against the risks of war and civil disturbance, as well as expropriation. The project entails the construction, ownership, and management of an office building in the Miramar district, located in central Luanda, where there is a significant shortage of quality office space. This is the agency's fourth guarantee for a project in this IDA-eligible country.

This SME will employ approximately 40 local people during the construction phase and will contribute to raising the overall construction standards in Luanda. Other externalities include the development of related businesses associated with maintenance and repairs. The building is expected to generate more than $200,000 in tax revenues for the government of Angola during the first five years of operation. Approximately 80 percent of all goods and services will be procured locally.

 
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