Bank of America NT & SA
MIGA issued a $4.5 million equity guarantee for the expansion of Bank of America's branch banking operations in Islamabad, Karachi, and Lahore. The project will aid the development of Pakistan's financial sector by expanding and diversifying financial services and resources for productive investment. Bank of America's loans to Pakistani trading and manufacturing companies will facilitate increased production of goods for export. The project will create twenty-eight new jobs. MIGA's guarantee will insure against the risks of currency transfer and expropriation.