COBEE-BPC-Bolivia Branch
In its first project in Bolivia, MIGA issued a $62.5 million guarantee to Nordic Power Invest AB of Sweden for its investment in power generation facilities and transmission lines. The guarantee covers the investment against the risks of transfer restriction and expropriation.
The project also involves the acquisition, financial restructuring, expansion, and modernization of the existing power plant in the Zongo Valley.
Local residents are dependent on the plant for power supply, and approximately one-fourth of the population relies on the company for their livelihood as permanent employees or contracted labor. The project will create an additional 80 permanent jobs. The company provides significant social benefits to the valley residents through the supply of medical and electrical services and housing, education, and medical services to employees and their dependents.