Skip to navigation Skip to main content Skip to site map

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
Manas Management Company
Project ID
1806
Fiscal year
2010
Status
Active
Guarantee holder
Finrep Ges. m.b.H.
Investor country
Austria
Host country
Kyrgyz Republic
Environmental category
B
Sector
Services
Gross exposure
 $5.8 million
Project type
Non-SIP

MIGA has modified an existing contract of guarantee with Finrep Handles GmbH (Finrep) of Austria increasing the guarantee amount to $5.8 million. This includes coverage of shares and future retained earnings; reflecting a revised 80% shareholding in Manas Management Company and extending the tenor of guarantee by two years.   MIGA’s coverage is against the risk of expropriation.

The project has been operating at Manas International Airport since 2001 as the sole licensed provider of cargo handling and storage services, as well as in-flight catering services. The company is based and operates in a strategic cargo and transportation hub with significant growth potential in the rapidly expanding Central Asian market.

The cargo complex at Manas International Airport has enabled the airport to increase the volume of incoming and outgoing airfreight, with broader economic benefits for the Kyrgyz Republic (which has only one international airport). The complex has also provided the necessary infrastructure to improve the capacity of the airport. It was built, and now operates to the IATA standard. This will continue to make the airport a more desirable destination for international airlines, leading to increased air traffic.

MIGA’s continuing support to Manas International Airport is consistent with the World Bank Group’s Joint Country Support Strategy for the Kyrgyz Republic for 2007-2010 and the Kyrgyz Republic’s Country Development Strategy for the same period. The project contributes to the strategic goals of improving the environment for business and economic growth.

 
The World Bank Group logo