Citibank, N.A. Argentina Branch

MIGA issued a guarantee for $90 million to Citibank Trust Fund for its shareholder loan investment in its subsidiary branch in Argentina. The investment will expand the banking capacity of the project enterprise. MIGA used its CUP to syndicate $45 million of the exposure in the private market with ACE Global Markets. The MIGA guarantee will cover the investment against the risks of transfer restriction and expropriation.

The investment will contribute to the development of Citibank Argentina's asset-based financing capabilities. MIGA's involvement will enable the Citibank Trust Fund to raise funds in the international capital markets. A large share of the funds will finance agricultural machinery, transportation, and construction equipment and provide working capital for farmers and their suppliers. With more equipment-targeted financing, Citibank Argentina will help enhance the productivity of the agriculture and construction sectors