ABN AMRO Bank N.V. Argentina Branch
MIGA issued a $20 million guarantee to the subordinated loan of ABN AMRO Bank, N.V. of the Netherlands for the expansion of its branch banking operations in Argentina. MIGA's guarantee covers the investment against the risks of transfer restriction and expropriation.
The project investment will permit ABNAMRO to provide medium- and long-term financing to local companies and multinationals in the infrastructure, oil and gas, manufacturing, and commodity trading sectors. Employees will be trained in management, automated banking operations, and sales and marketing.