MIGA’s first project in Somalia shows that renewable energy investment can be achieved in challenging environments.
The Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group has issued a guarantee of $5.67 million to cover Kube Energy’s equity and debt investments in Kube Energy Somalia LLC for a period of up to 15 years against the risks of expropriation and war and civil disturbance. This is MIGA’s first project in Somalia, which became a MIGA member country in March 2020.
The press release is live here: https://www.miga.org/press-release/miga-supports-ground-breaking-solar-project-somalia
Fatuma Hirsi, PhD
Somalia Country Office
World Bank Group | Delta Center | Menengai Road, Upper Hill, Nairobi
P.O Box 30577-00100, Nairobi Kenya