Cultivos Marinos Internacionales, S.A
MIGA's $2.5 million guarantee will help International Mariculture Partners, a U.S. partnership, establish a new scallop breeding facility on the coastal waters of northern Chile. The investment was facilitated by Chile's debt-equity swap program, and the joint venture will employ more than 1,200 Chilean workers at full production. Equity and future retained earnings are protected under the guarantee against loss resulting from currency transfer, expropriation, and war and civil disturbance risks. The term of the guarantee is 15 years.