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.”
MIGA provides political risk insurance and credit enhancement for cross-border private
sector investors and lenders, in support of projects in developing member economies
across the world. Marking its 30th year of operation, the Multilateral Investment Guarantee Agency (MIGA) has become the third leading institution among the MDBs in terms of mobilizing direct private capital to low- and middle-income countries. This year, MIGA issued a record $5.3 billion in political risk insurance and credit enhancement guarantees, helping finance $17.9 billion worth of projects in developing countries. New issuances and gross outstanding exposure—at $21.2 billion this year—almost doubled as compared to fiscal 2013.
In fiscal year 2017, MIGA continued to work on the
WBG’s twin goals of eradicating extreme poverty and
promoting shared prosperity by focusing on IDA (low
income) countries, Fragile and Conflicted States, Climate
Change and Innovation. Projects we supported will help 8.5 million people gain
access to power, help avoid 1.1 million tons of greenhouse
gas emissions, and enable access to healthcare
for 8.7 million patients. We issued $4.8 billion in guarantees
to private investors. This is a record for MIGA.
Nearly half of our projects were in IDA. We also continued
to work tirelessly to ensure that we supported
investments in fragile and conflict-affected countries,
which make up 10% of our portfolio.