| Project Detail |
This summary describes the application made to MIGA to provide political risk insurance coverage to Sucafina Holding SA of Luxembourg, and/or COFCO Ltd and/or MILLCO Ltd of Mauritius (Sucafina), for its equity and/or quasi-equity investments made into the project enterprise Rwacof Exports Ltd. (Rwacof) and Rwacof Estates Ltd. (REL) (together the Project Enterprises), against the risk of Expropriation, Transfer Restriction and Inconvertibility and War and Civil Disturbance for an amount up to US$9,975,081.60 and for a period up to 11 years. The proposed MIGA guarantee aims to support Sucafina’s investments in the Republic of Rwanda through the Project Enterprises where it conducts procurement and processing of coffee cherries in the Host Country. Among its main activities, the Project Enterprises focus on (i) the purchasing and processing of semi-washed and fully washed parchment coffee beans from farmers, traders, and partners; (ii) the operation of coffee washing stations, machinery, equipment and related leased property located across the Host Country; (iii) the selling, trading and exporting of semi-washed and fully washed green coffee to the local and international market; and (iv) the purchasing and management of seeds and fertilizers; and (v) the ownership and leasing of coffee washing stations, machinery, equipment, and related property located across the Host Country, among others. MIGA’s risk exposure under the guarantee is proposed to be shared with the IDA Private Sector Window (PSW). The PSW involvement is proposed via a shared first loss facility that will assist in spreading the risk and result in a reduced cost of the guarantees for the Project Enterprises. |
