Citibank, N.A. Pakistan

MIGA issued three loan and equity guarantees totaling $49.8 million to insure expansions of Citibank's branch banking operations in Pakistan. MIGA's guarantees cover the risks of currency transfer and expropriation. The increase in branch capital will significantly raise Citibank's authorized lending ceiling and help expand and diversify financial services and resources for productive investment in Pakistan. The expansion is expected to generate $11.6 million a year in tax revenues for the Pakistan government and create 100 additional jobs over the next five years.