ING Bank N.V.Buenos Aires Branch

MIGA issued a $15 million guarantee to cover a loan from ING Bank, N.V. of the Netherlands for the expansion of its subsidiary, ING Bank, N.V., Buenos Aires (INGBA). The loan is covered against the risks of transfer restriction and expropriation. INGBA offers a wide range of wholesale banking activities, including import/export financing, capital market products, advisory services, and mergers and acquisitions. The project will increase the availability of medium- to long-term capital to a broad range of businesses. An estimated 40 new employees will be hired.