On June 30, 2011, MIGA issued a guarantee of $4.6 million covering an investment by Cotecna Inspection S.A. of Switzerland in Cotecna Inspection S.A. Bureau de Liaison du Togo (COINS-Togo). The coverage is for a period of five years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract.

COINS-Togo is providing import verification services on behalf of the government of Togo under a build, operate, and transfer concession between Cotecna Inspection S.A. and the government of Togo. The service contract involves the supply, installation, and operation of an x-ray scanner and GPS-based container tracking equipment, as well as the management of the import verification system for goods entering Togo through the Port of Lomé.

The project will improve Togo’s position as a trading partner by introducing greater transparency and efficiency into the Port of Lomé’s operations. This will help Togo realize the benefits of a deepwater port that can serve neighboring land-locked countries. The transparent audit trail provided by scanning data will also help the government secure revenues through the elimination of opportunities for fraud and fiscal evasion. Security at the port will also be enhanced by ensuring that containerized goods are not illegal.

This project is aligned with MIGA’s strategic priorities of supporting investments into countries eligible for assistance from the International Development Association as well as countries affected by conflict.