Priority Areas: IDA, SME

MIGA issued $442,500 million in guarantee coverage to Italian Technology & Innovations S.r.l. (ITI) of Italy and $442,500 to FINREP HANDELS GmbH (FHG) of Austria for their respective investments of $500,000 each in Manas Management Company (MMC) of the Kyrgyz Republic. The guarantees cover the respective investments against the risks of transfer restriction, expropriation, and war and civil disturbance. The coverage does not support new financial or capital investments, but rather reflects a partial transfer of equity from ITI to FHG relating to the project, which was originally supported by MIGA in fiscal 1998 and 1999.