Skip to navigation Skip to main content Skip to site map


Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.


Project name
Banco Ri de la Plata S.A.
Project ID
Fiscal year
Not Active
Guarantee holder
Banco Santander Central Hispano S.A.
Investor country
Host country
Gross exposure
 $109.3 million
Project type

MIGA issued a $109.3 million guarantee to Banco Santander, S.A., for its shareholder loan to Banco Rio de la Plata S.A. (Banco Rio).

The contract highlights MIGA's increasing cooperation with private insurance providers in extending investment guarantees to foreign investors. Sovereign Risk Insurance Ltd. of Bermuda and Zurich-American Political Risk of the United States reinsured MIGA for $96 million. The contract was MIGA's first project using the Cooperative Underwriting Program (CUP) with Sovereign and its second with Zurich-American. The guarantee covers Banco Santander's loan against the risks of transfer restriction and expropriation.

The loan will be used to develop and expand a mortgage facility, Superhipoteca, which is expected to facilitate the construction, purchase and rehabilitation of residential property in Argentina and have significant upstream and downstream employment effects in the construction industry.

Apply for an Investment Guarantee
The World Bank Group logo