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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
Dragon Transport Ltd.
Project ID
8057
Fiscal year
2010
Status
Not Active
Guarantee holder
ManoCap Soros Fund
Sierra Investment Fund LLC
Investor country
Mauritius
Host country
Sierra Leone
Environmental category
B
Sector
Services
Date SPG disclosed
March 09, 2010
Project Board date
March 24, 2010
Gross exposure
 $1.8 million
Project type
SIP

View Summary of Proposed Guarantee


MIGA has issued guarantees totaling $1.8 million to the Sierra Investment Fund LLC and the ManoCap Soros Fund LLC covering their equity investment in Dragon Transport Ltd., a transport and logistics company in Sierra Leone. The coverage is for a period of up to 10 years against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project consists of the design and development of a national distribution, warehousing, and trading transport company in Freetown, Sierra Leone. The company will provide transport services to the Sierra Leonian market with a focus on the distribution of fish, ice, and other perishables. The company expects to have seven trucks, eighteen generators, and nine cold storage units in the initial development phase. Expansion from the capital is planned in Bo, Kenema, Kono, and Kambia.

MIGA’s support for this investment is aligned with the World Bank Group’s Country Partnership Strategy for Sierra Leone, particularly with regard to supporting the development of a competitive private sector. The project is also aligned with key agency priorities, which include encouraging investment in countries affected by conflict and those eligible for concessional lending from the World Bank’s International Development Association. The project was underwritten through MIGA’s Small Investment Program.

 
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