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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
Kyoga Ltd.
Project ID
3027
Fiscal year
2006
Status
Active
Guarantee holder
MILLco Limited
Investor country
St. Kitts and Nevis
Host country
Uganda
Environmental category
B
Sector
Agribusiness
Gross exposure
 $2.9 million
Project type
Non-SIP
MIGA has issued a $2.97 million guarantee to MILLco Limited covering its equity investment in Kyoga Ltd. The guarantee replaces a previous contract (issued in 2005) to Afriproduce of the British Virgin Islands for its investment in Ugandan subsidiary Ugacof. The new guarantee contract reflects the sale of Ugacof’s processing and warehousing facilities to Kyoga Ltd., which is owned by MILLco. The guarantee tenor remains unchanged (expiring in 2010).

The coverage protects against the risks of expropriation, transfer restriction, and war and civil disturbance. The project involves the operation of a coffee processing facility in Uganda.

 
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