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PublicationMIGA Annual Report 2009(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. PublicationMIGA 2008 Annual Report(Washington, DC: World Bank, 2008) Multilateral Investment Guarantee AgencyDuring 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. PublicationMIGA 2007 Annual Report(Washington, DC: World Bank, 2007) Multilateral Investment Guarantee AgencyIn 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. PublicationMIGA 2006 Annual Report(Washington, DC: World Bank, 2006) Multilateral Investment Guarantee AgencyContents: Highlights: Fiscal Year 2006 Highlights. Letter from the President to the Council of Governors. Board Activities Highlights. Message from the Executive Vice President. MIGA Officers and Managers. Development Impact: MIGA and Infrastructure: Improving People's Lives. Operational Overview: Guarantees. Technical Assistance. Online Information Dissemination. Legal and Claims. Regional Activities: Asia and the Pacific; Europe and Central Asia; Latin America and the Caribbean; Middle East and North Africa; Sub-Saharan Africa. Independent Evaluation Group and Compliance Advisor/Ombudsman. Management's Discussion and Analysis (FY06) and Financial Statements. Publication2004 Annual Report(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.