MIGA BACKS POWER PROJECT IN CAMEROON

The World Bank’s political risk arm, the Multilateral Investment Guarantee Agency, has provided backing for three power projects in Cameroon. Miga has provided guarantees of $180m to Energy Cameroon Cooperatief BA for its equityinvestment in Sonel, Cameroon’s privatised national electric utility. Miga is providing eight-year cover against the risks of transfer restriction, war and civil disturbance and breach of contract. Miga is also providing cover for equity investments by Gloeleq Africa for the 216-megawatt Kribi gas-fired power plant and the Dibamba 88-megawatt heavy fuel oil plant.