MIRA
INFORM REPORT
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Report Date : |
29th
December, 2006 |
IDENTIFICATION
DETAILS
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Name : |
UNITED
NATIONS – WORLD FOOD PROGRAMME |
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Registered Office : |
653 A Block 68, PO Box: 913, Khartoum, Sudan. |
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Country : |
Sudan |
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Legal Form : |
Organisation
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Line of Business : |
Provide Food Assistance |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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Maximum Credit Limit : |
US$
1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
UNITED
NATIONS – WORLD FOOD PROGRAMME
ADDRESS
Registered & Physical Address
Location : 653 A Block 68
PO Box : 913
Town : Khartoum
Country : Sudan
Telephone : (249-183) 248001 / 471582
Facsimile : (249-183) 248003 / 475829
Email : wfp.Khartoum@wfp.org
Branch Office (s)
Subject operates offices in Wau, Bentiu, El Fasher, Nyala, El Daein, Kutum, Kabkebiyah, Morni,
Habillah, Showak, Kosti, Juba, Malakal, Kass, Zalingei, El-Obeid, Port Sudan,
Kadugli, Mukjar, Mershing, Rumbek, Nyiluak, Akon, Kauda, Kapoeta, Pulmok,
Kassala, Abyei, Aweil, Bor, Damazin, El Geneina, Kulbus, Kurmuk, Mabior.
KEY PRINCIPALS
· Kenro Oshidari Regional
Director
NATURE OF OPERATIONS
In 2006, WFP plans to provide food assistance to over 6.5
vulnerable million people in Sudan including people in Darfur, the South, East
and Three Areas (Abyei, Blue Nile and South Kordofan).
WFP’s Emergency Food assistance to
populations affected by conflict aims to save lives, improve and
sustain the nutritional status of vulnerable populations and promote peace
building. The 2006 Emergency Operation, which is valued at US$746 million for
the entire year, targets 6.1 million people and will cover requirements for
Darfur, the South, Central, East and Three Areas.
WFP food aid will play a significant factor in supporting peace building at the
community level and consolidating the peace process in the South. In Darfur,
the East and the Three Areas, WFP wants to contribute to maintaining and
improving the nutritional status of the vulnerable populations with an emphasis
on women and children. It also seeks to increase food security and protect
livelihoods, facilitating voluntary return and minimising migration into camps
and other regions. The operation also includes an emergency school feeding
component, with a special focus on camps for internally displaced people.
WFP's Country Programme plays an important role in strengthening recovery and
development in Sudan. It aims to improve food security and enable households to
invest in capital through education and training. The programme is fully
harmonised, in terms of its objectives and timing, with the United Nations
Development assistance Framework (UNDAF) and targets about half a million
people.
The two core elements of the country programme are school feeding and food for
work. The total cost of the programme for the period 2002-2006 is US$47 million.
Through school feeding WFP aims to improve access, quality and level of
education for primary and secondary school children, primarily girls.
The programme also makes it possible for poor families to gain and preserve
assets through food for work activities.
Special Operations: to be able to operate within Sudan's existing logistic
framework, WFP is undertaking three different Special Operations:
· Emergency road repairs and mine clearance at
a cost of US$183 million.
· Logistic support of the Darfur operation at a
cost of US$63 million.
· Humanitarian Air Services, essential not only
for WFP but also other UN agencies and humanitarian organisations working in
Sudan at a cost of US$27 million.
BANKERS
·
Citi
Bank
250 Broadway
New
York, NY 10007
United
States of America
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000
The
United Nations World Food Programme in Sudan, aims to
provide food assistance to over 6.5 vulnerable million people. Its budget for
2006 is US$746 million.
During
the course of this investigation nothing detrimental was uncovered regarding
subject’s operating history or the manner in which payments are fulfilled. As
such the subject is considered to be a fair trade risk and the above credit
figure is deemed admissible.
Maximum
suggested credit figure: US$ 1,000,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory
capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry
similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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