Congo Equipment - Expansion (MIGA-7147)

Countries
  • Congo, Democratic Republic of
Where the impacts of the investment may be experienced.
Specific Location
Katanga
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
Dec 17, 2015
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
Bartrac Equipment
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Industry and Trade
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)
$ 106.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Jul 25, 2017

Disclosed by Bank Nov 13, 2015


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Project Description
This project finances the establishment and ongoing operations of a dealership for Caterpillar earthmoving equipment, as well as for power-generating equipment in the Katanga region. The dealership’s main activities include the sales, rental, and service of machines and generations sets, as well as parts sales.
Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
This project comprises of a MIGA guarantee of up to $106 million to Bartrac Equipment for a period of up to 10 years against the risks of transfer restriction, expropriation, and war and civil disturbance.
Contact Information
*No contacts available* 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/