Mauritania: World Bank approves Banda guarantees


Issue 279 - 17 Jun 2014 | 1 minute read

The World Bank board approved guarantees for the Banda gas-to-power project on 29 May. The package comprises partial risk guarantees worth up to $261m and a Multilateral Investment Guarantee Agency breach of contract guarantee of up to $585m for up to 20 years. The guarantees will not become effective until other legal agreements are signed, which can take a number of months following board approval. Timings for the project are uncertain as upstream operator Tullow Oil has yet to reach a final investment decision.

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