This summary covers a shareholder loan by Medical Exchange Solution SA (MXS) of Belgium to Open-IT SPRL in Burundi. The investor has applied for a MIGA guarantee of €509,200 ($700,472 equivalent) 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 healthcare sector.
These activities pose minimal adverse social or environmental risks. The company has provided MIGA with business/operational and human resources practices that focus on corporate environmental and social responsibility principles and are in line with MIGA’s Performance Standards. The project office is housed in a “business incubator unit” using city drainage, sewage, waste management. and electricity. This investment is therefore a category C under MIGA’s Policy on Social and Environmental Sustainability.
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 proposed 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 would be underwritten through MIGA’s Small Investment Program.