Scatec Solar has secured guarantees with the Multilateral Investment Guarantee Agency (MIGA) covering its equity investments in the Benban project, the company said in a statement. The guarantees cover 90% of investments by Scatec Solar for up to 15 years against the risks that it will be unable to legally convert EGP into hard currency and transfer it out of the country. MIGA, a World Bank member, provides guarantees to investors in emerging-market and developing countries to help them protect against political and non-commercial risk.

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