The Multilateral Investment Guarantee Agency (MIGA):
Multilateral Investment Guarantee Agency is a member of the World Bank Group. Their mission is to promote foreign direct investment (FDI) into developing countries to help support economic growth, reduce poverty, and improve people’s lives. The goal of MIGA is to promote investment in developing countries.
The other World Bank affiliate, the Multilateral Investment Guarantee Agency (MIGA), was set up in 1988 to overcome private sector reluctance to invest in developing countries because of perceived political risk less. MIGA encourages direct investment in developing countries by offering private investors insurance against non commercial risks. For example in 2002 MIGA issued $ 18 million of political risk insurance to societe Nationale de Telecommunication du Senegal to protect its investment in Ikate Sa a Mali telephone company. In 2002 MIGA underwrote a total of about $ 1.3 billion in political risk insurance. Paralleling the efforts of the World Bank are the regional development banks such as the African Development Bank, the Asian Development Bank and Inter American Development Bank. These Organizations promote the economic development of the poorer countries in their respective regions. The most recently created regional development bank is the European Bank for construction and development. It was established by the western countries to assist in the reconstruction of central Europe and Eastern Europe after the regions communist of collapsed. The regional development banks and the World Bank often works together on development projects, For example, the Asian Development Bank, in conjunction with the World Bank and several other agencies recently helped fund and insure a hydroelectric power plant near Katmandu, Nepal when operational Supply 25 percent of Nepal’s electrical power.
Today, MIGA’s mission is straightforward: To promote foreign direct investment into developing countries to support economic growth, reduce poverty and improve people’s lives.
Multilateral Investment Guarantee Agency is a member of the World Bank Group. Their mission is to promote foreign direct investment (FDI) into developing countries to help support economic growth, reduce poverty, and improve people’s lives. The goal of MIGA is to promote investment in developing countries.
The other World Bank affiliate, the Multilateral Investment Guarantee Agency (MIGA), was set up in 1988 to overcome private sector reluctance to invest in developing countries because of perceived political risk less. MIGA encourages direct investment in developing countries by offering private investors insurance against non commercial risks. For example in 2002 MIGA issued $ 18 million of political risk insurance to societe Nationale de Telecommunication du Senegal to protect its investment in Ikate Sa a Mali telephone company. In 2002 MIGA underwrote a total of about $ 1.3 billion in political risk insurance. Paralleling the efforts of the World Bank are the regional development banks such as the African Development Bank, the Asian Development Bank and Inter American Development Bank. These Organizations promote the economic development of the poorer countries in their respective regions. The most recently created regional development bank is the European Bank for construction and development. It was established by the western countries to assist in the reconstruction of central Europe and Eastern Europe after the regions communist of collapsed. The regional development banks and the World Bank often works together on development projects, For example, the Asian Development Bank, in conjunction with the World Bank and several other agencies recently helped fund and insure a hydroelectric power plant near Katmandu, Nepal when operational Supply 25 percent of Nepal’s electrical power.
Today, MIGA’s mission is straightforward: To promote foreign direct investment into developing countries to support economic growth, reduce poverty and improve people’s lives.
