Original disclosure @ MIGA website
Updated in EWS Dec 31, 2022
Disclosed by Bank Mar 12, 2021
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According to the Bank’s website, in June 2020 The Multilateral Investment Guarantee Agency (MIGA) issued a non-binding Master Contract ("MC") of Guarantee to Kasada Hospitality Fund L.P with an availability period of three years during which Kasada's future hotel investments will be underwritten individually by MIGA under established procedures.
In November 2021, MIGA issued guarantees of up to US$78.9million covering Kasada's first Sub-project named Sub-project Awale, which consists of a portfolio of eight brownfield hotels acquired by Kasada and operated by Accor S.A. ("Accor") in Cameroon, Cote d'Ivoire and Senegal. Under Sub-project Awale, MIGA issued nine contracts of guarantee to provide coverage against the risks of Expropriation, Transfer Restriction, and War and Civil Disturbance for Kasada's equity investments for a period of up to 15 years.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Kasada Capital Management||Parent Company||-|
No contact information provided at the time of the disclosure.
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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