Skip to navigation Skip to main content Skip to site map

Projects

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 Rio de la Plata S.A.
Project ID
3800
Fiscal year
2001
Status
Not Active
Guarantee holder
Banco Santander Central Hispano S.A.
Investor country
Spain
Host country
Argentina
Sector
Banking
Gross exposure
 $30.0 million
Project type
Non-SIP

A $30 million MIGA guarantee was issued to Banco Santander Central Hispano S.A. of Spain for its shareholder loan to Banco Rio de la Plata S.A. The guarantee protects against transfer restriction and expropriation of funds. The agency will cover an additional $70 million through its Cooperative Underwriting Program. The project aims to increase financing at competitive rates for mortgages and SMEs in Argentina, with 80 percent of the loan to be used to increase the availability of medium- and long-term financing. The project will also provide a wide range of financial services to local, regional, and international clients.

The mortgage program will support the purchase, construction, and rehabilitation of residential houses for individuals and the acquisition of business premises for corporations. It will also improve the ability of companies operating in the manufacturing sector to expand their production facilities and increase output. The project will contribute an estimated $0.3 million to local authorities in annual tax revenues.

 
Apply for an Investment Guarantee
The World Bank Group logo