Mitsui del Peru S.A.

Mitsui & Co. (U.S.A.), Inc. is making an equity investment in Mitsui del Peru S.A., which MIGA is insuring, along with future dividends. MIGA's $1 million coverage is against the risks of transfer restriction and expropriation of funds. The infusion of new capital will allow Mitsui del Peru, a trading and investment firm, to extend its activities in the country, and in particular will enable it to participate in the privatization of Peru's transportation sector that is currently underway.

The increase in Mitsui del Peru's activities will contribute directly to the growth of the Peruvian economy. The company's trading activities currently generate approximately $110 million a year through exports to Japan, North America, and Europe. The additional capital is expected to enable Mitsui del Peru to increase this export business by 30 percent. Through its investment activities, the company will also be contributing to the privatization of state-owned enterprises, as well as to the establishment of new ventures in the country. The project is expected to increase the annual tax revenues Mitsui del Peru pays to the government to more than $1.25 million, as well as indirectly assist in job creation in Peru.