South Africa
ING Bank N.V. South Africa Branch
$22.5 million
Banking
Project Brief
Not Active
MIGA issued a guarantee for $22.5 million to ING Bank N.V. of the Netherlands for a shareholder loan to its branch in South Africa. The guarantee covers the investment against the risks of transfer restriction and expropriation.
The loan will allow ING Bank N.V. to increase the availability of medium- to long-term finance to corporations at competitive prices. ING Bank N.V. South Africa Branch is expected to focus the project's lending activities on firms involved in export and project finance and infrastructure development in South Africa. The introduction of long-term finance will deepen South Africa's financial market and contribute to economic growth.