Acropolis/Citibank Tower

MIGA issued a guarantee for $33.8 million to Scotiabank (Cayman Islands) Limited for its loan to construct and develop the Acropolis/Citibank Tower, an office and retail complex in downtown Santo Domingo. The new guarantee increased MIGA's coverage to Scotiabank (Cayman Islands) Limited from $24.4 million to $33.8 million and the duration of the guarantee from 15 to 20 years. The guarantee covers the risks of transfer restriction, expropriation, and war and civil disturbance.

The tower consists of 15 stories of office space and four stories of retail and shopping stores. The shopping section will feature two or three anchor stores, 30 to 40 boutiques, two restaurants, an eight-screen multiplex theater, and an entertainment center. This office and retail space will encourage the development of private businesses in a growing city. The tower is expected to generate approximately 320 new jobs after construction.