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

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

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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.

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World Bank building

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

Our Impact Dropdown Description

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.

Our Products Dropdown Description

Young woman bending down to tending to her outside chores

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

Projects Dropdown Descriptions

Hyundai building

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

Tunisia

Passenger-Car Ferry TANIT

$217.7 million
Transportation
Project Brief
Active
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On August 23, 2011, MIGA issued guarantees totaling $217.7 million covering an investment through financing by BNP Paribas and Société Générale of France in a passenger-car ferry to be acquired by the Compagnie Tunisienne de Navigation SA (CTN) in Tunisia.  The coverage is for a period of up to 13 years against the risks of non-honoring of sovereign financial obligations.

The project involves the financing of a ferry with a capacity of 3,200 passengers and 1,060 cars to be built by Daewoo Shipbuilding & Marine Engineering (Daewoo) of Korea for Compagnie Tunisienne de Navigation SA (CTN) of Tunisia. CTN will be the borrower of a loan to be provided by BNP Paribas and Société Générale that will be used to finance the purchase of the vessel. MIGA has been asked to provide non-honoring of sovereign financial obligations cover on a guarantee provided by the Tunisian Ministry of Finance.

The project will help secure Tunisia’s main transportation link with Europe, key to the country’s continued economic development.

MIGA’s support is particularly important in the current Tunisian context following the events that occurred in January 2011. No other political risk insurance cover was available for the project.

MIGA’s efforts complement the World Bank Group’s commitment to the country at this time of transition.

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