Philippines
ING Bank, Manila Branch
$30 million
Banking
Project Brief
Not Active
ING Bank extended a $5.6 million shareholder loan to expand its branch activities in Manila. MIGA insured the loan for $5 million against currency transfer and expropriation risks. (In fiscal1995, in its first project in the Philippines, MIGA issued $25 million of coverage to ING for its $27.8 million loan to ING Manila. This contract replaces the 1995 contract, for a total of $30 million).