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Publication(Washington, DC: Multilateral Investment Guarantee Agency, 2021-10-01) Multilateral Investment Guarantee AgencyIn 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(Washington, DC: World Bank, 2009) Multilateral Investment Guarantee AgencyFor 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(Washington, DC: World Bank, 2004) Multilateral Investment Guarantee AgencyAlthough a small agency, the Multilateral Investment Guarantee Agency (MIGA) has a broad mandate-to promote productive foreign direct investment (FDI) flows into developing countries. The Agency's results in fiscal 2004 were mixed. While the total amount of guarantees issued fell slightly, to $1.1 billion, a greater proportion of projects supported were in the poorer countries eligible for financing from the International Development Association (IDA). In membership, the Islamic Republic of Iran and Suriname joined MIGA, bringing the number of member countries to 164. Highlights for the year include: first guarantee coverage for investors from the Czech Republic and Poland; three water projects supported-two in China and one in Russia; 16 projects supported in conflict-affected countries; 65 technical assistance activities conducted in 29 countries, along with regional and global initiatives; new technical assistance work initiated in Afghanistan, China, Mali, Paraguay, South Africa and Tajikistan; the European Investor Outreach Program launched with co-funding from the Austrian government; and FDI Promotion Center launched.