World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Stay Connected
x
Dominican Republic

Citibank N.A.

$18 million
Banking
Project Brief
Not Active

Project Facts

Project Facts

Project Facts

Dominican Republic
Project ID
674
Guarantee Holder
Citibank, N.A.
Investor Country
United States
Project Type
Non-SIP
Fiscal Year
1998

MIGA issued $18 million in guarantees to Citibank, N.A. of the United States for its shareholder loans to its Dominican Republic branch. The guarantee covers the investment against the risks of transfer restriction and expropriation.

The project will allow Citibank to extend its loan portfolio in the country, thereby allowing it to offer more competitive rates across all the credit products the bank now offers such as investments, working capital loans, consumer loans, and medium-term financing. The bank also plans to finance projects in the manufacturing, tourism, and transportation sectors.

Local staff will be able to take advantage of training programs offered in such areas as marketing, risk management, and transaction banking. Many staff will also have the opportunity to train in other Latin American countries and the United States.