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MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

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Explore different types of political risk insurance guarantees provided to investors and lenders.

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Our Impact Dropdown Description

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Our Products Dropdown Description

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Projects Dropdown Descriptions

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Costa Rica

Europa Zurqui

$9.6 million
Tourism
Project Brief
Not Active
twitteremail

MIGA issued $1.9 million in coverage to Radisson Hotels International, Latin America, Inc. (United States) for its $750,000 equity investment in a hotel in San José. MIGA also issued $7.6 million of coverage to the Caribbean Mercantile Bank of the Cayman Islands (CMB), a subsidiary of the Bank of Nova Scotia, for its $8.5 million loan to the project. MIGA guarantees cover Radisson's investment against the risk of transfer restriction and the bank loan against expropriation, transfer restriction, and war and civil disturbance risks.

The hotel is Europa Zurqui, a 107-room,four-star hotel built in 1994. CMB's new loan, covered by MIGA, will refinance existing term debt and provide funds to cover capital improvements.

The hotel will have an important impact on local businesses. It will purchase about 80 percent of required goods and services locally, including food products and taxi, telephone, and dry cleaning services. In addition, the local economy will benefit from the increased number of tourists and business travelers.

twitteremail