SETRAG Gabon (MIGA-14654)

Countries
  • Gabon
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.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
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
May 26, 2023
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
Meridiam Infrastructure Africa Fund II SLP
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 66.70 million
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.
Currency conversion note:
Bank reported 61
Converted using 2023-08-15 exchange rate.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Aug 15, 2023

Disclosed by Bank Aug 4, 2023

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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.

According to the Bank’s website, on June 30, 2023, Multilateral Investment Guarantee Agency (MIGA) issued guarantees in amount of EUR 61 million, covering equity and quasi-equity investments by Meridiam Infrastructure Africa Fund II SLP & Meridiam Infrastructure Africa Parallel Fund II SLP (Meridiam) into Societe d'Exploitation du Transgabonais (SETRAG) (the Project Enterprise or the PE). The guarantees were issued for a period of 15 years and cover the risks of transfer restriction & inconvertibility, expropriation, war and civil disturbance and breach of contract. SETRAG is a company established in the Gabonese Republic to manage Gabon's multi-user national railway backbone spanning 650km between the Port of Owendo (located right outside the capital city of Libreville), and Franceville, Gabon's 3rd largest city and the center of the country's mining region, under a 40-year concession agreement.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Meridiam SAS Parent Company -

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.

For additional information on the Project, please contact:

Isabelle Teboul, Sustainability Director – SETRAG

Address: P.O. Box 2198, Libreville, Gabon
E-mail: isabelle.teboul@setrag.com

Phone: (+241) 11 70 86 09

Fax: 241-01-70-01-06

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

How it works

How it works