Westdeutsche Landesbank Girozentrale Istanbul Branch

MIGA insured Westdeutsche Landesbank Girozentrale Dusseldorf Munster (WestLB) of Germany for its shareholder loan to its branch in Turkey. The contract was issued under MIGA's Cooperative Underwriting Program, placing a portion of the coverage with three Lloyd's of London syndicates, M.D. Reith, Esq., And Others, Syndicate 861; M.E. Brockbank, Esq., And Others, Syndicate 1209; and N.J. Metcalfe, Esq., and Others, Syndicate 588. MIGA's guarantee covers the investment against the risks of transfer restriction and expropriation.

The project will allow WestLB to expand its banking activities in Turkey, thereby providing financing to companies in the Turkish market, in particular for those involved in export-generating activities and infrastructure projects.