BRT Dakar (MIGA-15010)

Countries
  • Senegal
Geographic location where the impacts of the investment may be experienced.
Specific Location
Dakar
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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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
Jun 27, 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 Africa Investments SAS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • 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)
$ 21.47 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 19.9
Converted using 2023-11-14 exchange rate.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ MIGA website

Updated in EWS Nov 14, 2023

Disclosed by Bank Mar 17, 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, MIGA signed a contract issuing guarantee totaling EUR19.9 million to Meridiam Africa Investments SAS(Meridiam) for their equity investments in Dakar Mobilite SA (DM) in the Republic of Senegal. The MIGA Guarantee covers against the risks of Expropriation (Expro), Transfer Restriction and Inconvertibility (TR), War and Civil Disturbance (WCD), and Breach of Contract (BoC) for a period of up to 15 years.

The project involves the acquisition of rolling stock and associated equipment for, and the operation and maintenance (O&M) of, the first Bus Rapid Transit (BRT) network in Dakar (the Project), for a period of 15 years. With a total length of 18.3 km, the BRT route extends from downtown Dakar to suburban Guediawaye. Serving some of the city's most populated areas, it is expected to become a major traffic route and enhance urban mobility in Dakar.

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
- - - - Dakar Mobilité SA Undisclosed -
- - - - 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, please contact:

Contact name: Dr. Mariétou NDIAYE

Contact number: +221 76 6201766

Email: m.ndiaye@dakarmobilite.sn

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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