Dragon Transport Ltd.

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.