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 2021
(Washington, DC: Multilateral Investment Guarantee Agency, 2021-10-01)In FY21, MIGA issued 5.2 billion US Dollars in new guarantees across 40 projects. These projects are expected to provide 784,000 people with new or improved electricity service, create over 14,000 jobs, generate over 362 million US Dollars in taxes for the host countries, and enable about 1.3 billion US Dollars in loans to businesses—critical as countries around the world work to keep their economies afloat. Of the 40 projects supported during FY21, 85 percent addressed at least one of the strategic priority areas, namely, IDA-eligible countries (lower-income), fragile and conflict affected situations (FCS), and climate finance. As of June 2021, MIGA has also issued 5.6 billion US Dollars of guarantees through our COVID-19 Response Program and anticipate an expansion to 10–12 billion US Dollars over the coming years, a testament to the countercyclical role that MIGA can play in mobilizing private investment in the face of the pandemic. A member of the World Bank Group, MIGA is committed to strong development impact and promoting projects that are economically, environmentally, and socially sustainable. MIGA helps investors mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance, as well as offering credit enhancement on sovereign obligations. -
Publication
MIGA Annual Report 2020
(Washington, DC: Multilateral Investment Guarantee Agency, 2020-10-02)MIGA’s mandate is to promote cross-border private investment in developing countries by providing guarantees (political risk insurance and credit enhancement) to investors and lenders. In FY20, MIGA issued nearly US$4 billion in new guarantees, helping mobilize over US$7 billion in total financing. FY20 projects will provide access to power to some 12.4 million people, procure US$4.3 million in goods locally each year, and avoid approximately 3 million tons of carbon dioxide equivalent (tCO2e) emissions per year. Of the 47 projects supported during FY20, 70 percent addressed at least one of the three strategic priority areas: IDA-eligible countries, fragile and conflict-affected situations (FCS), and climate change. Since its creation, MIGA has issued over $59 billion in guarantees across 118 developing countries. -
Publication
MIGA Annual Report 2019
(Washington, DC: Multilateral Investment Guarantee Agency, 2019-10-11)Private investors provide not just financing, but also solutions, for projects in developing countries. Yet, non-commercial risks can make them hesitant to invest in developing countries. A member of the World Bank Group, MIGA is committed to strong development impact and promoting projects that are economically, environmentally, and socially sustainable. MIGA helps investors mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance, and also offers credit enhancement. Over the last six years, MIGA has doubled its portfolio, resulting in approximately 50 million people gaining access to power, and $3.9 billion in annual taxes and fees paid to host governments through MIGA-supported projects. -
Publication
MIGA Annual Report 2018
(Multilateral Investment Guarantee Agency, Washington, DC, 2018-10)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. -
Publication
MIGA Annual Report 2017: Insuring Investments, Ensuring Opportunities
(Washington, DC, 2017-10)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. -
Publication
MIGA Annual Report 2010, Volume 2
(Washington, DC: World Bank, 2010)The Multilateral Investment Guarantee Agency's (MIGA's) mandate to promote foreign direct investment into developing countries to improve people's lives and create more opportunities remains more important than ever. Despite a challenging business climate, during the past year MIGA sought out and supported projects that contributed to its mission and growth. In fiscal year 2010, MIGA provided $1.5 billion in new guarantee coverage. This amount targeted a wide range of projects across all regions from bank liquidity in Serbia and Latvia to guarantees on complex port projects in Turkey, China, and Senegal. Over the past year MIGA supported investments in frontier markets, such as Sierra Leone and Ethiopia. And as was the case last year, MIGA experienced a lower-than-usual level of cancellation. MIGA also continued to support financial flows from banks to their subsidiaries in Europe and Central Asia that were harmed by the financial crisis. Beyond the financial sector, MIGA supported clients seeking political risk insurance for energy and infrastructure investments with a strong development impact. The projects that MIGA supports create jobs; provide water, electricity, and other basic services; strengthen financial systems; generate tax revenues; transfer skills and technological know-how; and help countries tap natural resources in an environmentally sustainable way. MIGA again demonstrated thought leadership in the political risk insurance arena. The report fills an information gap and underlines that investors view political risk as the most important short- and medium-term obstacle to investing in developing countries. MIGA's management continues to focus on change to increase effectiveness and improve efficiency for investors and lenders. MIGA has also worked more closely with other units of the World Bank Group to ensure the best use of the Bank Group's expertise, products, and services. -
Publication
MIGA Annual Report 2010, Volume 1
(Washington, DC: World Bank, 2010)The Multilateral Investment Guarantee Agency's (MIGA's) mandate to promote foreign direct investment into developing countries to improve people's lives and create more opportunities remains more important than ever. Despite a challenging business climate, during the past year MIGA sought out and supported projects that contributed to its mission and growth. In fiscal year 2010, MIGA provided $1.5 billion in new guarantee coverage. This amount targeted a wide range of projects across all regions from bank liquidity in Serbia and Latvia to guarantees on complex port projects in Turkey, China, and Senegal. Over the past year MIGA supported investments in frontier markets, such as Sierra Leone and Ethiopia. And as was the case last year, MIGA experienced a lower-than-usual level of cancellation. MIGA also continued to support financial flows from banks to their subsidiaries in Europe and Central Asia that were harmed by the financial crisis. Beyond the financial sector, MIGA supported clients seeking political risk insurance for energy and infrastructure investments with a strong development impact. The projects that MIGA supports create jobs; provide water, electricity, and other basic services; strengthen financial systems; generate tax revenues; transfer skills and technological know-how; and help countries tap natural resources in an environmentally sustainable way. MIGA again demonstrated thought leadership in the political risk insurance arena. The report fills an information gap and underlines that investors view political risk as the most important short- and medium-term obstacle to investing in developing countries. MIGA's management continues to focus on change to increase effectiveness and improve efficiency for investors and lenders. MIGA has also worked more closely with other units of the World Bank Group to ensure the best use of the Bank Group's expertise, products, and services. -
Publication
MIGA Annual Report 2009
(Washington, DC: World Bank, 2009)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
Annual Report 2001
(Washington, DC: World Bank, 2001)The report discusses the Multilateral Investment Guarantee Agency's (MIGA) activities for the fiscal year ended June 30, 2001. Highlights discussed in this report include: 1) country membership; 2) guarantee operations; 3) MIGA's financial statements; and, 4) technical assistance services, including strategic planning, and training, privatization, business opportunities, and information technology. It also expands on MIGA's focus in producing results, in developing investment marketing services, pioneering new insurance tools for entering new markets, and in promoting new partnerships. The guarantees program, legal and policy framework, are largely described, to finally provide a financial overview, and its financial statements.