main navigation menu miga logo
World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Subscribe to Our Monthly Newsletter
x

About Dropdown Description

World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Our Impact Dropdown Description

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Our Products Dropdown Description

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Projects Dropdown Descriptions

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Uruguay

ING Bank (Uruguay) S.A.

$2.7 million
Banking
Project Brief
Not Active
twitteremail

MIGA issued a guarantee for $2.7 million to ING Bank N.V. of the Netherlands for its shareholder loan to its subsidiary in Uruguay. The investment will expand the financing capacity of the project enterprise, ING Bank (Uruguay) S.A., to be used in the newly liberalized mortgage lending sector. The guarantee will cover the investment against the risks of transfer restriction and expropriation.

The investment will be used to fund mortgage loans to individuals. Onward lending by the project enterprise will take the form of multiple subloans to home buyers, with maturities of up to 10 years. The project is expected to help develop the financial sector in Uruguay and improve the quality and diversity of financial products in the market. The financing will also support the construction sector through increased demand for housing.

twitteremail