Joint Stock Company Moskva Krasnye Holmy

MIGA provided insurance coverage to Enka Holding Yatirim A.S., one of Turkey's largest construction companies, for its $25 million equity investment in the construction and lease of an office building in Moscow. MIGA's $17 million guarantee covers Enka against the risks of expropriation and war and civil disturbance.

The building is part of the Russian Cultural Center, a large, new complex on the banks of the Moscow River. In addition to the office building covered by MIGA, the complex includes a hotel, exposition centers, theaters and concert halls, and retail shops. The complex is majority-owned by Enka, in partnership with the Russian Ministry of Culture, the Moscow Government Construction Department, and two individual Russian shareholders.