Peru
Administradora de Fondos de Pensiones Integra, S.A.
$15 million
Banking
Project Brief
Not Active
MIGA extended $15 million in coverage to Internationale Nederlanden Bank, N.V. (ING) of the Netherlands for its $13.9 million loan to expand its Peruvian affiliate, Administradora de Fondos de Pensiones Integra, S.A., a pension management fund. The project will expand the breadth of personal coverage offered to Peruvian citizens, relative to the country's nine other such funds, from exclusively pension guarantees to include life and health insurance policies. Collectively, increased competition in the sector is expected to revitalize the insurance sector, boost capital markets, and increase national savings. ING's loan is covered against the risks of currency transfer and expropriation of funds.