Salvorhoteis Mocambique - Investimentos Turisticos, S.A.

MIGA issued two guarantees totaling $2.9 million in coverage to Salvintur-Sociedade de Investimentos Turisticos, S.A., of Portugal for its investments in the renovation of a hotel in Maputo. The guarantees cover Salvintur's shareholder loan and equity investment against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project will upgrade and renovate the Rovuma Carlton Hotel in Maputo. The hotel will have an important multiplier effect and will generate further employment downstream in local firms and suppliers. The project is expected to generate more than $1 million in annual wages, and will purchase up to three times that amount in local goods and services.