Development Bank of Southern Africa (MIGA-13335)

Countries
  • South Africa
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
FI
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 22, 2016
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
Standard Chartered Bank, UK
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 361.00 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)
$ 361.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Aug 2, 2017

Disclosed by Bank Jun 22, 2016


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
This summary covers a non-shareholder loan by Standard Chartered Bank of the United Kingdom, and other financial institutions still to be identified, to the Development Bank of Southern Africa (DBSA). Standard Chartered, and other financial institutions still to be identified, have applied for a MIGA guarantee of up to $361 million for a period of up to 11 years against the risk of non-honoring of financial obligations by a state-owned enterprise. This proposed project involves the expansion of lending by DBSA, a wholly-owned financial institution of the government of South Africa. As the key implementing agency for South Africa's National Development Plan, DBSA supports economic growth and development in the country and the broader Southern African Development Community. MIGA's support will allow DBSA to expand its US dollar lending portfolio, primarily in infrastructure.
Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
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/