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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
Leogrant SRL
Project ID
5317
Fiscal year
2004
Status
Not Active
Guarantee holder
Leon Construction International B.V.
Investor country
Netherlands
Host country
Moldova
Sector
Tourism
Gross exposure
 $0.9 million
Project type
Non-SIP

MIGA issued a guarantee of $900,000 to Leon Construction International B.V. of the Netherlands for its $1 million equity investment in Leogrant SRL of Moldova. The guarantee is for a period of 15 years and provides coverage against the risks of transfer restriction, expropriation, and war and civil disturbance.

The SME project will finance the expansion of an existing hotel located in the center of Chisinau, which caters primarily to a business clientele. Upgraded business facilities and hotel accommodations are needed to attract potential investors. The project will also support the growth of upstream industries and services such as transportation, food pro-cessing, furniture-making and tour operators. The hotel construction will draw primarily on local supplies. The project will generate foreign exchange for the country, tax revenues to the government, and will create jobs.

 
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