main navigation menu
World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Stay Connected
x
Burundi

Open-IT SPRL

$0.7 million
Services
Project Brief
Not Active

Project Facts

Project Facts

Project Facts

Burundi
Project ID
9863
Strategic Priority Area
Conflict Affected
IDA
Guarantee Holder
MXS SA
Investor Country
Belgium
Environmental Category
C
Date SPG Disclosed
October 21, 2011
Projected Board Date
November 03, 2011
Project Type
SIP
Fiscal Year
2012

On December 13, 2011, MIGA issued a guarantee of €509,200 ($672,782 equivalent) to Medical Exchange Solution SA (MXS) of Belgium covering its shareholder loan to Open-IT SPRL in Burundi. MIGA’s coverage is for a period of up to 10 years against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project involves the establishment of a greenfield company, Open-IT SPRL (Open-IT). Open-IT will develop and implement health information management systems for health facilities and health-management organizations and deliver technical support and training services. Open-IT will act as a medical information, communication, and technology (ICT) solutions and consultancy service provider for the Burundian health care sector.

The ICT solution will provide knowledge transfer and job opportunities to Burundians and improve the efficiency and cost-effectiveness of hospital operations. It will also support the effective use of scarce medical knowledge in region, through medical information exchange. Data hosted by OpenIT can be used for research, remote diagnosis for medical institutes, remote education for universities, statistics and epidemiological input for local governments, non-governmental organizations, and others.

The project is aligned with the World Bank Group’s Country Assistance Strategy for Burundi, which calls for an improved business environment and stepped-up private sector investment. The project is also aligned with MIGA’s commitment to supporting investments in the world’s poorest countries as well as countries affected by conflict. The project was underwritten through MIGA’s Small Investment Program.