Backing for Investment in Ceramics Factory

TODAY NICARAGUA – The Multilateral Guarantee Investment Agency has awarded the Colombian company Corona a guarantee of US$11 million dollars to build a plant to manufacture ceramics for bathrooms in the country.

From a statement issued by the Multilateral Investment Guarantee Agency (MIGA):

The Multilateral Investment Guarantee Agency (MIGA), and entity of the World Bank Group which offers political risk insurance and credit enhancement mechanisms, today announced its support for the acquisition, expansion and modernization of a plant for bathroom ceramics in Managua (Nicaragua) belonging to Corona, a ceramics manufacturing company based in Colombia. The investment will increase the availability of sinks and toilets in the country, which is facing major sanitation deficiencies, above all in poor rural areas.

The MIGA will provide a guarantee of US$11 million, which will provide protection for an equity investment by Cerámica Centroamericana S. A. and a trademark license.