Publication: MIGA Annual Report 2018
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2018-10
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2018-10
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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.
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“Multilateral Investment Guarantee Agency. 2018. MIGA Annual Report 2018. © MIGA. http://hdl.handle.net/10986/30499 License: CC BY 3.0 IGO.”
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Publication MIGA Annual Report 2017(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 2015(Washington, DC: World Bank Group, 2015-09-22)In fiscal year 2015, the Multilateral Investment Guarantee Agency (MIGA) issued a total of $2.8 billion in guarantees for 40 projects in MIGA's developing member countries. An additional $3.2 million was issued under MIGA-administered trust funds. Projects spanned regions and sectors, with 60 percent of this new issuance falling into at least one of MIGA's priority areas. At the end of the year, MIGA's gross exposure was $12.5 billion. Of this, $4.8 billion was ceded to MIGA's reinsurance partners. MIGA’s mission is to support economic growth, reduce poverty, and improve people’s lives. In order to achieve this, the agency needs a clear understanding of the development outcomes of the projects it supports. MIGA’s Development Effectiveness Indicator System (DEIS) collects a common set of indicators from clients to demonstrate results across all projects: volume of investment catalyzed, direct employment, taxes paid, and value of locally procured goods. It also measures sector-specific indicators. MIGA's $2.8 billion issuance in fiscal year 2015 is expected to catalyze an additional $9.8 billion in public and private co-investment.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 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 2016(Washington, DC, 2016-10)In fiscal year 2016, despite a period of increased uncertainty over the state of our global economy, MIGA played a significant role in catalyzing private sector investments into countries most vulnerable to external shocks through our political risk insurance and credit enhancement products. Of the record $4.3 billion in guarantees issued, 53 percent of the investments were insured in poverty-afflicted areas. We continued to work tirelessly to ensure that we supported investments in fragile and conflict-affected countries, which make up 10 percent of our portfolio.
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