Escotel Africa (MIGA-14430)

Countries
  • Liberia
  • Sierra Leone
Geographic location 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.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 30, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
ESCOTEL Mauritius
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Aug 22, 2021

Disclosed by Bank Jan 12, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

On December 2020, The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, has issued guarantees of up to US$25.6 million to Escotel Mauritius covering its investments in solar power generation in Liberia and Sierra Leone for a period of up to ten years. The MIGA guarantees provide protection to Escotel Mauritius against the risks of Transfer Restriction, Expropriation, and War and Civil Disturbance.

MIGA's guarantees will support the provision of electricity and logistical services to power existing and future cell phone towers (Telecommunication Network Sites or TNS) in Liberia and Sierra Leone. The Escotel projects will be providing power through considerably more efficient and climate-friendly power solutions by installing photovoltaic solar panels at each TNS that will either supplement or replace entirely the diesel generators. This will allow the telecommunication operator to modernize and expand the scope and quality of its services and will have a significant impact since providing power to TNS currently represents about 50 percent of the total operating costs due to unreliable supply and heavy reliance on expensive diesel generators.

The project is a Category B under MIGA's Policy on Environmental and Social Sustainability.Click herefor the project's Environmental and Social Review Summary and Environmental and Social Action Plan.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project contacts not available at the time of disclosure.

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

ACCOUNTABILITY MECHANISM OF IFC/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

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How it works