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Banco de Boston, Buenos Aires

Sector: Commercial • Location: Argentina

Source: Multilateral Investment Guarentee Agency (MIGA)

Project
Not Active

MIGA issued a $50 million guarantee to cover Bank of Boston's loan to expand its branch banking operations in Argentina. The local enterprise, Banco de Boston, has successfully conducted business in Argentina since 1917. The expansion will enable Banco de Boston to add six new branches to the thirty-four offices it now operates throughout Argentina, increasing its range of wholesale and retail ba

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Project Information

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The project “Banco de Boston, Buenos Aires” is an infrastructure initiative in the Commercial sector, located in Argentina. Taiyo aggregates data on it from Multilateral Investment Guarentee Agency (MIGA).

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Participants

Sponsoring Agency

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Status

Original status

not active

Taiyo status

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Taiyo last update

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Available timestamps

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Contact

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Phone

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Email

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Address

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Description

Description

MIGA issued a $50 million guarantee to cover Bank of Boston's loan to expand its branch banking operations in Argentina. The local enterprise, Banco de Boston, has successfully conducted business in Argentina since 1917. The expansion will enable Banco de Boston to add six new branches to the thirty-four offices it now operates throughout Argentina, increasing its range of wholesale and retail banking activities. The project will create forty new jobs and generate $1.9 million in annual tax revenues for the government of Argentina. MIGA's guarantee will insure Banco de Boston against the risks of currency transfer and expropriation.

Original sub-sector

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Original Currency

USD

Original budget

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Procurement method

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Budget

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Location

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Source

Source reliability

High

Data quality score

100%

Source

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URL

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More Details

Project Type

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Article Published Date

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