MIGA Annual Reports & Financial Statements

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Multilateral Investment Guarantee Agency (MIGA), which is part of the World Bank Group, provides political risk insurance or guarantees against losses caused by noncommercial risks to facilitate foreign direct investment (FDI) in developing countries. MIGA’s mission statement is “To promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives.”

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  • Publication
    MIGA Annual Report 2009
    (Washington, DC: World Bank, 2009) Multilateral Investment Guarantee Agency
    For Multilateral Investment Guarantee Agency (MIGA), the challenge this year has been promoting foreign direct investment (FDI) into developing countries at a time when investment flows are slumping. While many investors shied away from projects because of the difficult investment climate, those who have been doing business recognized the need for the kind of political risk guarantees MIGA provides. This year, MIGA provided $1.4 billion in guarantees for a range of projects, down from the agency's banner year of $2.1 billion in guarantees in 2008. But MIGA also experienced far fewer cancellations of existing coverage this year than in previous years. MIGA is also supporting projects to help the most vulnerable. This year, the agency entered into an innovative contract to facilitate up to $100 million of investments to small and medium-size enterprises in Sub-Saharan Africa, businesses which account for most of the continent's jobs. MIGA has also focused on internal changes. At a time of financial crisis, promoting FDI depends on moving quickly to meet the emerging needs of clients. This will enhance MIGA's operational flexibility and procedural efficiency, and should lead to more business while strengthening MIGA's position as a self-standing enterprise.
  • Publication
    MIGA 2008 Annual Report
    (Washington, DC: World Bank, 2008) Multilateral Investment Guarantee Agency
    During fiscal year 2008, the Bank Group committed $38.2 billion in loans, grants, equity investments and guarantees to its members and to private businesses in member countries, an increase of $3.9 billion (11.4 percent) from fiscal year 2007. The World Bank, comprising International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD), committed $24.7 billion in loans and grants to its member countries. IDA commitments to the world's poorest countries were $11.2 billion, five percent lower than the previous year. IBRD commitments in fiscal 2008 totaled $13.5 billion, five percent higher than the previous year. International Finance Corporation (IFC) committed $11.4 billion and mobilized an additional $4.8 billion for private sector investments in developing countries, more than 40 percent of which were in IDA eligible countries. Multilateral Investment Guarantee Agency (MIGA) issued close to $2.1 billion in guarantees in support of investments in the developing world, an increase of $730 million over 2007. Of the total, $689.6 million went to IDA-eligible countries. This year, MIGA's operating income was $55 million, compared with $49 million in FY07. The increase of $6 million was due to an increase in net premium income and investment income and a decrease in the agency's administrative expenses. FY08 net income increased by $3.4 million compared to FY07, primarily due to higher guarantee income and investment income and translation gains.
  • Publication
    MIGA 2007 Annual Report
    (Washington, DC: World Bank, 2007) Multilateral Investment Guarantee Agency
    In this report several records stand out from fiscal year 2007: Nearly half (48 percent) of projects supported by MIGA were in IDA-eligible countries, bringing MIGA's outstanding exposure in IDA countries to 41 percent. In addition, 38 percent of the projects supported during the year were in Africa, where MIGA has supported critical investments with a total of $2.3 billion in guarantees since 1991. The 2007 review also illustrates MIGA's commitment to supporting developing country investors, which represent a growing source of foreign direct investment in the developing world. These achievements point to the institution's strong dedication to confronting poverty-especially where it is most dire. Fiscal 2007 was also a strong year for MIGA's non-guarantee activities, with 44 technical assistance projects conducted in 29 countries in all regions, in addition to several regional and global initiatives. The fiscal year also registered important innovations in MIGA's delivery of investment-related information, with the launch of two new knowledge websites on foreign investment and political risk insurance. The report stresses that MIGA not only needs to adapt to a changing world: it must find a way to support the inclusive and sustainable globalization that will help all countries, particularly the poorest, to take advantage of ongoing changes and opportunities in the world economy.