Sika Silk Company Limited

MIGA issued $4 million in coverage to ING Bank for its nonshareholder loan toward the expansion of Sika Silk Company Limited, to produce high-quality silk. In 1995 MIGA covered three equity investors (PepsiCo, Inc., of the United States, Ratti Technologies S.r.L. of Italy, and Shinwha Textile Company, Ltd., of Korea) in this joint-venture project involving six investors from China, Italy, Korea, and the United States. MIGA's guarantee covers currency transfer, expropriation, and war and civil disturbance risks.