New Bugesera International Airport (MIGA-0577da08c6)

Countries
  • Rwanda
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
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.
Voting Date
Jul 30, 2018
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
African Infrastructure Investments Managers
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 120.00 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)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Dec 26, 2018

Disclosed by Bank May 29, 2018


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Project Description

MIGA has been approached to cover a US$120 million equity investment into the Bugesera Airport Company (BAC), for the purposes of designing, building, and operating, the New Bugesera International Airport (NBIA or the "Project"). The Project involves the design, construction, operation and maintenance of a new airport, including airport terminal and associated structures and infrastructure; temporary 5 kilometers (km) water pipeline for the construction phase; upgrades to the road linking an existing quarry northeast of the proposed Project; and a 14.5 km expressway. The Project is located 23 km southeast of Kigali in the Rilima and Juru sectors of the Bugesera District of Rwanda. The Project is fully owned by BAC, a special purpose vehicle responsible for the construction and operation of the Project, which is 25% owned by Aviation Travel and Logistics (ATL) - an institution of the Government of Rwanda, and 75% owned by Mota Engil - an international construction and infrastructure management company. Mota Engil is also the project developer and Engineering, Procurement and Construction (EPC) contractor. It is proposed the ground services will be provided by RwandAir as the anchor airline for the airport. Airport Consulting Vienna (ACV), an international firm specializing in commercial airport planning and development, has been engaged as technical advisor for the construction of the Project, and is also being considered to provide technical support during operations.

 

 

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Contact Information

Bugesera Airport Company,

KG 415 Avenue, Gate No 6,

Gacuriro,

PO Box 2179 - KIGALI,

Rwanda.

Attention: Mr Vladislav Bystrenko

Tel: +250 280 119 922

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/