Cotecna Inspection Congo S.A.R.L.

On June 30, 2011, MIGA issued a guarantee of $5.6 million covering an investment by Cotecna Inspection S.A. of Switzerland, as sole shareholder, in Cotecna Inspection Congo S.A.R.L located in the Republic of Congo. The coverage is for a period of three years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract.

The project involves the provision of import verification services to importers on behalf of the government of Congo under a build, operate, and transfer concession between Cotecna Inspection S.A. and the government. The service contract involves the supply, installation, and operation of an X-ray scanner and Cotecna’s Computerized Risk Management System, as well as the overall management of the import verification system for goods entering Congo through the port of Pointe Noire.

The project will contribute to trade facilitation, as well as the development of the private sector, by speeding up the customs clearance of goods needed by the industrial and service sectors in Congo. In addition, it will help the government secure revenues through the elimination of opportunities for fraud and fiscal evasion due to the transparent audit trail provided by scanning data. Security at the port will also be strengthened by ensuring that containerized goods are not illegal.

This project is aligned with MIGA’s strategic priorities of supporting investments into countries eligible for assistance from the International Development Association as well as countries affected by conflict. It is also the first MIGA-supported project in Republic of Congo.