Barlows Equipamentos Companhia Limitada

MIGA coverage totaling $18.5 million was issued to Barlows Tractor International Limited of the United Kingdom for its shareholder loan and equity investment in Barlows Angola. The guarantee covers the investments against the risks of transfer restriction, expropriation, and war and civil disturbance. Barlows Angola will establish an exclusive dealership, including a showroom, warehouse, administrative offices, and a repair and maintenance workshop for power generation and forklift equipment at the Luanda Sul Industrial site, south of the capital city Luanda. The project will have a significant impact on the supply of Angola's construction equipment. Local companies will be involved in the design and construction of the dealership and housing for its employees. It is anticipated that $6.2 million of goods and services will be procured locally during operation. Barlows Angola will provide employment and technical skills training programs for about 150 Angolan nationals. Moreover, it will maintain an on-site medical clinic and provide scholarships to local staff and their families.