Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Burundi
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Multilateral Investment Guarantee Agency (MIGA)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-02-06
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Sucafina Holding S.A., Millco Ltd., Cofco Ltd.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Agriculture and Forestry
Investment Amount (USD): $ 5.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 5.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ MIGA website
Updated in EWS: 2017-09-23
Disclosure Date: 2016-10-28
Budeca, Bugestal, Bucafe
MIGA-3543

Project Description
On February 6, 2017, MIGA issued guarantees of $5.6 million to Sucafina Holding S.A. of Luxembourg, Millco Ltd. and Cofco Ltd. of Mauritius (the Investors) covering their equity, shareholder loans and retained earnings invested in Budeca S.A., Bugestal S.A. and Bucafe S.A. (the Project Enterprises) in Burundi. The $5.6 million guarantees will cover the equity, shareholder loans and retained earnings for a period of up to 10 years against the risks of transfer restriction, expropriation, war and civil disturbance. The project will support the existing operations of three companies that procure, process and export coffee beans in Burundi. MIGA's support would allow the Investors to continue to invest, upgrade and rehabilitate the Project Enterprises. The project falls under the category of small and medium-sized enterprises (SMEs), which play a critical role in Burundi's economic development. MIGA's additional coverage would be underwritten through MIGA's Small Investment Program.
Investment Description
Contact Information
ACCOUNTABILITY MECHANISM OF MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/
Bank Documents