ING Bank (Ecuador) N.V.
MIGA issued a $16 million guarantee to ING Bank for its shareholder loan to expand its branch operations in Ecuador. MIGA's guarantee covers the risks of currency transfer and expropriation.
The contribution will allow ING Ecuador Bank to finance medium- and long-term lending and to participate in project financing, treasury activities, and capital market transactions. The expansion is expected to create 22 jobs for Ecuadorian nationals.