📋 Tender Overview
Project Number: 48852
Company Name: Bismark Maritime Limited
Date SPI Disclosed: Sep 25, 2024
Country: Papua New Guinea
Region: East Asia and the Pacific
Projected Board Date: Nov 8, 2024
Environmental Category: B
Status: Pending Approval
Department: Regional Industry - INF Asia & Pac
Additional Project Attributes: Blended Finance
Project Description
The proposed Investment is an up to US$ 20 million financing facility to Bismark Maritime Limited ( Bismark or the Company ), a Papua New Guinean-owned shipping company, operating in the domestic/inter-islands cargo transportation market. The financing will support Bismark’s plans to acquire two younger multipurpose cargo vessels (MPVs), in order to increase the cargo carrying capacity. The newly acquired vessels are expected to be more efficient in terms fuel consumption and green-house-gas emissions. The project is expected to be supported by the IDA PSW Local Currency Facility (IDA PSW LCF) as described in the Blended Finance Section.
Total Project Cost and amount and nature of IFC's Investment: IFC’s proposed investment in Bismark is a secured IFC A-loan of up to US$ 20 million equivalent in Papua New Guinea Kina (PGK).
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington, DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
