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Guinea

Société des Grands Moulins de Guinée S.A.

$9 million
Agribusiness
Project Brief
Not Active

Project Facts

Project Facts

Project Facts

Guinea
Project ID
2674
Guarantee Holder
Agro-Industrial Investment and Development, S.A.
Investor Country
Panama
Project Type
Non-SIP
Fiscal Year
2001

MIGA issued a $9 million guarantee for a shareholder loan made by Agro-Industrial Investment and Development S.A. of Panama to Société des Grands Moulins de Guinée S.A., a mill that produces flour for local distribution and bran for export. This follows previous contracts issued by MIGA for the initial equity and debt investments in the project enterprise. The new coverage is for an additional shareholder loan to restructure and refinance the project's debt. It offers protection against the risks of expropriation, and war and civil disturbance.

The flour mill, the only one in the country, helps offset the need to import flour. In addition, the project is employing local workers, providing staff training, and initiating community involvement through university training programs and local sports events. The project is also benefiting local flour distributors and users by providing cheaper, fresher flour, saving about $4 million a year in imports and generating export and foreign exchange revenue.