Multilateral Investment Guarantee Agency

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Multilateral Investment Guarantee Agency

(MIGA), specialized agency of the United Nations. Formed in 1988, with headquarters in Washington, D.C., it is a member of the World Bank Group (see International Bank for Reconstruction and DevelopmentInternational Bank for Reconstruction and Development (IBRD)
(IBRD), independent specialized agency of the United Nations, with headquarters at Washington, D.C.; one of five closely associated development institutions (also including the International Center for Settlement of
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) and membership in the MIGA is open to all World Bank members. The agency, which has 181 member nations, encourages foreign investment in developing countries by providing political-risk insurance, protecting investors against losses resulting from such noncommercial risks as transfer restriction, expropriation, breach of contract, and war and civil disturbance. In addition, the agency provides information on investment opportunities and technical assistance to investors and member states; it also mediates investment disputes and administers claims. MIGA specializes in facilitating investments in high-risk, low-income countries and supports projects that are socially, economically, and environmentally sustainable. In 2005 MIGA launched its Small Investment Program, which encourages the growth of small and medium-sized enterprises by offering investors in these enterprises a standardized package of risk coverage. As of 2009, MIGA had issued more than 900 guarantees, providing more than $17.4 billion in coverage for projects in 96 developing countries.
References in periodicals archive ?
To understand the usefulness of ICSID and MIGA to investors eying Iraqi markets, it is important to explain what the two World Bank arms do not accomplish.
She said that it was the first ever visit of MIGA CEO to Pakistan, which is an indication of the increasing interest the Agency in Pakistan.
Elle soulignera notamment la protection que l'assurance de la MIGA peut offrir aux investisseurs et aux preteurs, en permettant ainsi de surmonter les obstacles susceptibles de decourager l'investissement.
We are excited to see what's next, as we partner with our customers and implement more of their great ideas,” said Mat Mathews, co-founder and technologist for Miga Col.labs.
Following the signing, Mohsen pointed out the national reconciliation government has committed to provide a business environment to attract more investments to Yemen, considering the cooperation between the GIA and the MIGA is an important step in this direction.
La MIGA peut contribuer a creer des emplois en favorisant l'investissement prive dans l'industrie de la fabrication, le secteur energetique et les infrastructures ', a declare Wormser, et d'ajouter : La MIGA est deja presente en Tunisie, et je suis ici pour reaffirmer notre soutien a ce pays.
"MIGA can help create jots by facilitating private investments in manufacturing, energy and infrastructure," said Wormser, adding that "MIGA has been active in Tunisia and I am here to underline our continued support."
MIGA is insuring the project for up to 10 years against the risks of transfer restriction, expropriation, and war and civil disturbance, it added.
A unit of the World Bank Group that provides guarantees to investments in developing countries, Miga said the more encouraging growth performance of developing countries vis-a-vis advanced economies would allow the former to register double-digit growth in FDIs.
It said the World Bank official will also raise awareness of how MIGA's investment guarantees can help investors mitigate perceived political risks.
Interviewed by KUNA, Kobayashi said she is visiting Kuwait to encourage the private sector to consider development projects with MIGA guarantees in developing nations of the region.
The forum was held in collaboration with the Islamic Corporation for Insurance of Investments and Export Credits (ICIEC), and the Multilateral Investment Guarantee Agency (MIGA).