The overall goal of the Project was the use of MIGA guarantees to facilitate the financing and development of high-standing office facilities and integrated business services for a 17-story office tower (Djibouti International Business Center) in downtown Djibouti City. The office tower includes an energy efficient design. 

Executive Summary

The Project is the use of MIGA guarantees to facilitate the financing and development of high-standing office facilities and integrated business services for a 17-story office tower (Djibouti International Business Center) in downtown Djibouti City, in partnership with Horafia (a private holding company based in Geneva Switzerland). The Project’s architecture, materials, and operating equipment will contribute to its energy efficiency, and these factors are expected to save approximately 270 tons of carbon dioxide emissions per year. Energy efficiency measures include external shading devices, sensible heat recovery from exhaust air, and higher thermal performance glass, among other measures. The building additionally includes water reduction measures such as a black water treatment and recycling system and low-flow faucets.
The guarantees provided by MIGA (for up to USD 24.3 million) are designed to provide coverage against various project risks associated with its equity and quasi-equity investments. The Project provides much needed office space to the nation’s capital (Djibouti City) and is expected to attract additional multinational companies and investors.