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

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

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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.

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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.

Brazil

Parmalat Brasil Administracao e Participacoes Ltda.

$21.6 million
Manufacturing
Project Brief
Not Active
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MIGA issued $21.6 million of coverage to Parmalat, S.p.A., of Italy for its loan guaranty in connection with the construction of a new bakery plant in Jundiai, Sao Paulo. Parmalat's guaranty covers a $24 million loan from the Bank of America, N.A., toward establishment of Parmalat's Brazilian subsidiary, Administracao Participacoes Ltda. MIGA guarantees cover the risks of currency transfer and expropriation.

The bakery will produce an estimated 40,000 tons of confectionery goods annually. Parmalat will source the most important raw materials, such as oil, sugar, wheat flour, and packaging, in the Jundiai region, boosting the local economy. The project's output will initially substitute for some imports; in subsequent years Parmalat expects to export its products to other Latin American markets. The investment will create more than 1,000 jobs.

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