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Karnaphuli Fertilizer Company Limited

$32.2 million
Project Brief
Not Active

In fiscal 1991 MIGA issued guarantees of $9.9 million each to support Marubeni Corporation and Chiyoda Corporation, two Japanese equity investors in the Kamaphuli Fertilizer Company, Ltd. (KAFCO) in Bangladesh. This $500 million fertilizer facility experienced delays in implementation that necessitated a restructuring of the complex project financing. As a result, both Marubeni and Chiyoda increased their contributions to the project in fiscal 1992. MIGA issued $16.1 million of additional coverage to each of these Japanese investors to cover their loans to the project.