BNP-AK-DRESDNER Bank A.S.
MIGA issued $61 million in guarantees to Banque Nationale de Paris of France for its shareholder loan to BNP-AK-Dresdner Bank A.S. in Turkey. MIGA received reinsurance for half the amount from the private insurance market. The guarantee covers the investment against the risks of transfer restriction and expropriation of funds.
The project will allow the project enterprise to expand its banking activities in Turkey, thereby providing medium- and long-term financing to companies in the Turkish market.