Inversiones La Rioja S.A.

MIGA issued guarantees totaling $7.2 million in coverage to Marriott International, Inc. of the United States and $27 million in coverage to the Bank of Nova Scotia for their investments in the construction and operation of a hotel in Lima. The guarantees include coverage of the risks of transfer restriction, expropriation, and war and civil disturbance.

The hotel, a 300-room Marriott International facility, will be located in the Miraflores business district and will provide a convention and meeting place for business travelers. It is expected that a majority of the goods and services needed for maintenance and operation of the hotel will be sourced from local businesses. The project will create approximately 350 jobs. Employees will be trained on-site and at other Marriott hotels in the region.