Trade Finance Guarantee Framework Agreement with Deutsche Bank (MIGA-15697)

Regions
  • World
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Deutsche Bank AG
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1,160.80 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 1000
Converted using 2026-03-23 exchange rate.
Primary Source

Original disclosure @ MIGA website

Updated in EWS May 13, 2026

Disclosed by Bank Mar 23, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of a potential MIGA guarantee to be issued to Deutsche Bank AG (DB) to support a portfolio of trade transactions facilitated via State-Owned Banks and Central Banks (Obligors) in Emerging Markets and Developing Economies (EMDEs). MIGA would issue Trade Finance Guarantees (TFG) of up to EUR 1 billion against the risk of non-payment by Obligors for over a period of 3 years (with a potential 3-year extension).

MIGA interventions will contribute to positive development impact through the facilitation of trade in developing countries, where acute trade finance gaps persist, especially in fragile and conflict-affected settings and for micro, small and medium enterprises (SMEs). It has been widely acknowledged that trade is a driver of economic productivity, wage growth, and resilience. Through partnering with DB, MIGA will facilitate needed trade finance amid challenging global and national macroeconomic conditions, with high replication potential.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The MIGA-covered facility will support short-term trade transactions in EMDEs. These transactions pose minimal environmental and social (E&S) risks and impacts and as such the project has been categorized as 'FI-3' under MIGA'sPolicy on Environmental and Social Sustainability (2013).

The applicable E&S requirements for this project are the MIGA Exclusion List, applicable E&S host country's laws and sector specific screening as applicable. The project will not support coal and non-RSPO palm oil related activities, among others. The project will also be required to comply with the applicable labor requirements specified under MIGA Performance Standard 2: Labor and Working Conditions.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

MIGA would issue Trade Finance Guarantees (TFG) of up to EUR 1 billion against the risk of non-payment by Obligors for over a period of 3 years (with a potential 3-year extension).

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange. Deutsche Bank was founded in 1870 in Berlin.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works