Independent Evaluation Group2015-01-222015-01-222011978-1-60244-190-3https://hdl.handle.net/10986/21346The aim of this report is to inform the design and the implementation of Multilateral Investment Guarantee Agency (MIGA's) new Strategic Directions FY12-14 by drawing lessons from recent experience with one of the main pillars of the MIGA, financial sector guarantees, the fastest growing business area for MIGA. The report presents a forward-looking analysis aimed to inform the development and implementation of MIGA's new strategic direction framework for FY12-14. It looks at the implementation of the current strategy, Operational Directions FY09-11, and assesses performance over the strategy period with respect to its Key Performance Indicators (KPIs) and other indicators. It also includes an updated assessment of MIGA's institutional and operational effectiveness in those areas that are most relevant to strategy implementation.en-USCC BY 3.0 IGOACCOUNTABILITYACCOUNTINGADBADMINISTRATIVE COSTADMINISTRATIVE COSTSADVISORY SERVICEADVISORY SERVICESAGRICULTUREAPPLICATION PROCESSAPPROVAL PROCESSARBITRATIONASSET VALUEASSET-BACKED SECURITYBANKING SECTORSBANKING SYSTEMSBENEFICIARIESBENEFICIARYBONDSBUSINESS DEVELOPMENTBUSINESS VOLUMECAPITAL ALLOCATIONCAPITAL FLOWSCASH FLOWCOMMUNITY DEVELOPMENTCOMPARATIVE ADVANTAGECREDIBILITYCREDIT PORTFOLIOCUSTOMER DEMANDSDEBTDECISION MAKINGDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPMENT BANKDEVELOPMENT CORPORATIONDOMESTIC BANKSDUE DILIGENCEECONOMIC INTEGRATIONECONOMIC RATE OF RETURNEIBELIGIBILITY POLICIESELIGIBLE INVESTMENTSEMPLOYMENTEQUIPMENTEQUITY INVESTMENTEQUITY INVESTMENTSEXPORT INSURANCEEXPROPRIATIONFINANCIAL ACCESSFINANCIAL CRISISFINANCIAL DEEPENINGFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL INTERMEDIARIESFINANCIAL MARKETSFINANCIAL PRODUCTSFINANCIAL SECTORFINANCIAL SUSTAINABILITYFINANCIAL SYSTEMSFINANCIAL VIABILITYFIXED COSTSFOREIGN BANKFOREIGN BANKSFOREIGN CAPITALFOREIGN CAPITAL FLOWSFOREIGN DIRECT INVESTMENTFOREIGN INVESTMENTFOREIGN INVESTORSGDPGLOBAL ECONOMYGROSS DOMESTIC PRODUCTGUARANTEE AGENCYGUARANTEE PRODUCTSHOST COUNTRIESHOST COUNTRYHOST GOVERNMENTSHOUSINGHUMAN RESOURCESINCOMEINSTRUMENTINSURANCEINSURANCE AGENCIESINSURANCE CORPORATIONINTANGIBLEINTANGIBLE ASSETSINTERNATIONAL BANKINTERNATIONAL DEVELOPMENTINTERNATIONAL FINANCEINTERNATIONAL FINANCIAL INSTITUTIONINVENTORYINVESTINGINVESTMENT BANKINVESTMENT CORPORATIONINVESTMENT FUNDSISSUANCEISSUANCE OF GUARANTEESKEY CHALLENGEKEY PERFORMANCE INDICATORSLENDERLIABILITYLOANLOCAL BANKSLOCAL BUSINESSESLOCAL CURRENCYLOCAL ECONOMYLOCAL MARKETLONG TERM ASSETSMACROECONOMIC STABILIZATIONMARKET COMPETITIONMARKET SHAREMIGAMORTGAGEMORTGAGE BANKINGMORTGAGE LENDINGMULTILATERAL INVESTMENT GUARANTEE AGENCYNEW BUSINESSORGANIZATIONAL STRUCTUREPARTIAL RISKPATENTSPENSIONPENSION FUNDSPOLITICAL RISKPOLITICAL RISKSPORTFOLIOPREMIUM REVENUESPRICE RISKPRIVATE INVESTMENTPRODUCTIVITYPROFITABILITYPROFITABLE BUSINESSPUBLIC FINANCESPUBLIC-PRIVATE PARTNERSHIPRATE OF RETURNREGULATORY STANDARDSRESERVERESERVESRETAINED EARNINGSRETURNRETURNSRISK PERCEPTIONSSECURITIESSETTLEMENTSHAREHOLDERSMALL INVESTORSMALL INVESTORSSOVEREIGN DEFAULTSTANDARD CONTRACTSUBORDINATED BONDSSUBSIDIARIESSUBSIDIZATIONSUPPORT INFRASTRUCTURETECHNICAL ASSISTANCETRADE CREDITTRADEMARKSTRANCHETRANSACTIONTRANSFER RISKTRANSITION ECONOMIESUNDERLYING ASSETSUNDERWRITERUNDERWRITERSUNIONVILLAGE10.1596/978-1-60244-190-3