​MIGA backs Hyundai assembly plant in Pakistan

The Multilateral Investment Guarantee Agency (MIGA) has issued guarantees worth $66 million in support of the design, construction and operation of a Hyundai motor vehicle assembly plant and associated dealership in Pakistan. The guarantees cover investments and loans guarantees extended by the Sojitz Corporation of Japan to Hyundai Nishat Motor (Private) Limited, which is developing the facilities. The guarantees are issued for up to 15 years against the risks of transfer restriction, expropriation, and war and civil disturbance.