BT20 National Highway 20 (MIGA-1324)

Countries
  • Vietnam
Where the impacts of the investment may be experienced.
Specific Location
Dau Giay, Dong Nai province to Dran Town, Lam Dong province
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Approved
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.
Voting Date
Feb 20, 2014
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
Sumitomo Mitsui Banking Corporation
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Infrastructure
  • Transport
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)
$ 500.00 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)
$ 500.00 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 Oct 26, 2017

Disclosed by Bank Apr 24, 2013


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Project Description
On March 7, 2014, MIGA issued a guarantee of $500 million covering a loan from a syndicate of commercial banks to support the construction financing of the BT20 National Highway 20 Project in Vietnam. Sumitomo Mitsui Banking Corporation (SMBC) is serving as the political risk insurance agent for the lenders that include Goldman Sachs as the lead arranger and 10 other international commercial banks. The coverage is for $500 million against the risk of non-honoring of sovereign financial obligations for a period of up to 15 years. The project consists of the rehabilitation and upgrading of the National Highway 20 that extends from the Dong Nai to Lam Dong provinces of Vietnam, under a build-transfer contract between the BT20 Consortium and the Ministry of Transportation. The NH20 road is a connector road for the Ho Chi Minh City-Dalat (Central Highlands-South Central Coastal Ports) corridor.
Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
MIGA issued a guarantee of $500 million covering a loan from a syndicate of commercial banks to support the construction financing of the BT20 National Highway 20 Project in Vietnam. Sumitomo Mitsui Banking Corporation (SMBC) is serving as the political risk insurance agent for the lenders that include Goldman Sachs as the lead arranger and 10 other international commercial banks. The coverage is for $500 million against the risk of non-honoring of sovereign financial obligations for a period of up to 15 years.
Contact Information
Office Address BT20-Cuu Long Office 649/36 Dien Bien Phu Street, Ward 25, Binh Thanh District, Ho Chi Minh City, Viet Nam. PMU7 Office 63 Nguyen Xi Street, Ward 26, Binh Thanh District, Ho Chi Minh City, Viet Nam. 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/