Bank Austria Creditanstalt Leasing Croatia d.o.o.

MIGA issued a guarantee totaling $29.6 million in coverage to Bank Austria Creditanstalt Leasing GmbH (BACAL) of Austria for its shareholder loan to expand and develop the leasing capacity of its subsidiary branch, Bank Austria Creditanstalt Leasing Croatia d.o.o. The MIGA guarantee will cover the investor against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract.

The project is the expansion of BACL's representative office in Croatia into a full-service leasing subsidiary offering medium- to long-term leases of agricultural, construction, and transport equipment to Croatian companies. The framework of the investment will be designed to mainly focus on promoting and benefiting Croatia's small- and medium- sized enterprises that do not have access to medium- to long-term equipment finance. The project is expected to add depth to Croatia's financial sector by improving the quality and diversity of the products available in the market.