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MDGIF Investment Policy Statement

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Applicable to: MDGIF Project Promoters
Equity Partners
MDGIF INVESTMENT POLICY STATEMENT (MIPS)

Code: MDGIF Guide 1001 - 2024

Effective Date: 17th May 2024

This document is a property of the Midstream and Downstream Gas Infrastructure Fund. All rights reserved.
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taken to ensure that the interests of the MDGIF are protected and the policies under
this MIPS are adequately reflected.
iv.
Prepare a report of its findings and recommendations from the proposal’s technical
and commercial evaluation for the Fund. The report shall provide an overview of the
project review, the investment readiness and suitability for investment by the Fund.
v.
Submit the technical and commercial evaluation report to MDGIF Governing Council
through the Executive Director.
vi.
Provide transaction advisory services on project proposals as may be directed by the
Council.
5.1.5 Final Investment Decision (FID)
i.
The Executive Director shall present an investment memo for proposed investments to
the Governing Council along with the report of the Transaction Advisor’s technical
and commercial evaluation.
ii.
The Governing Council shall review the investment memo, report of the Transaction
Advisor, and other supporting documentation to determine final investment decision
(FID) on the investment proposal.
iii.
The Council shall approve or decline investment proposals presented, with
documentation of its decision and justifications.
iv.
Following approval of projects, the Governing Council shall direct the Executive
Director to commence all necessary processes to formalize the investment in the
project with an indicative MOU, non-binding offer letter or indicative term sheet to
proceed with the transaction.
5.1.6 Financial Close
i.
The MDGIF executes definitive final Investment documents, Investment agreements
and ensure conditions precedent are satisfied.
ii.
Project Promoters and equity partners shall submit drawdown request to the MDGIF
for fund disbursement based on agreed milestones.
iii.
MDGIF disburses funds based on milestones set out in the executed Investment
agreements.