Publication: MIGA Annual Report 2010, Volume 1
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Date
2010
ISSN
Published
2010
Author(s)
Multilateral Investment Guarantee Agency
Abstract
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.
Link to Data Set
Citation
“Multilateral Investment Guarantee Agency. 2010. MIGA Annual Report 2010, Volume 1. © Washington, DC: World Bank. http://hdl.handle.net/10986/4365 License: CC BY 3.0 IGO.”