Société General (Karachi Branch)
Société Générale, a French company, received a $12.6 million debt and equity guarantee from MIGA for a new branch bank in Pakistan. The Karachi branch will provide a wide range of banking services to its national and international customers, aiding in the development of Pakistan's financial sector. The branch will create some forty-seven new jobs and generate an estimated $2.6 million in tax revenues during its first five years. MIGA's guarantee covers the risks of currency transfer and expropriation.