abhishreshthaa
Abhijeet S
MIGA
Our Mission
The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 as a member of the World Bank Group to promote foreign direct investment into emerging economies to improve people's lives and reduce poverty.
MIGA fulfills this mandate and contributes to development by offering political risk insurance (guarantees) to investors and lenders, and by helping developing countries attract and retain private investment.
Our Principles
MIGA is led in its mission by four guiding principles: focusing on clients — serving investors, lenders, and host country governments by supporting private enterprise and promoting foreign investment; engaging in partnerships — working with other insurers, government agencies, and international organizations to ensure complementarity of services and approach; promoting developmental impact — striving to improve the lives of people in emerging economies, consistent with the goals of host countries and sound business, environmental, and social principles; ensuring financial soundness — balancing developmental goals and financial objectives through prudent underwriting and sound risk management.
Our Members
MIGA membership, which currently stands at 154, is open to all World Bank members. The agency has a capital stock of SDR1 billion. In March 1999, MIGA's Council of Governors adopted a resolution for a capital increase of approximately $850 million. The agency received another $150 million in operating capital from the World Bank.
Development Impact
Projects supported by MIGA have widespread benefits: local jobs are created, tax revenue is generated, skills and technological know-how are transferred. Local communities often receive significant secondary benefits through improved infrastructure, including roads, electricity, hospitals, schools, and clean water.
Foreign direct investment supported by MIGA also encourages similar local investments and spurs the growth of local businesses that supply related goods and services. As a result, developing countries have a greater chance to break the cycle of poverty.
MIGA's guarantee coverage requires investors to adhere to social and environmental standards that are considered to be the world's best. Without World Bank Group involvement, projects often go ahead without adequate safeguards.
Unique Strengths
MIGA both supports and draws on the extensive resources of the World Bank Group, applying unparalleled knowledge of emerging economies to the projects it guarantees. MIGA's unique strengths also derive from its structure as an international organization that acts as an umbrella of deterrence against government actions that could disrupt investments, and allows it to influence the resolution of potential disputes.
MIGA's capacity to serve as an objective intermediary enhances investor confidence that an investment going into an emerging economy will be protected against non-commercial risks.
Our Mission
The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 as a member of the World Bank Group to promote foreign direct investment into emerging economies to improve people's lives and reduce poverty.
MIGA fulfills this mandate and contributes to development by offering political risk insurance (guarantees) to investors and lenders, and by helping developing countries attract and retain private investment.
Our Principles
MIGA is led in its mission by four guiding principles: focusing on clients — serving investors, lenders, and host country governments by supporting private enterprise and promoting foreign investment; engaging in partnerships — working with other insurers, government agencies, and international organizations to ensure complementarity of services and approach; promoting developmental impact — striving to improve the lives of people in emerging economies, consistent with the goals of host countries and sound business, environmental, and social principles; ensuring financial soundness — balancing developmental goals and financial objectives through prudent underwriting and sound risk management.
Our Members
MIGA membership, which currently stands at 154, is open to all World Bank members. The agency has a capital stock of SDR1 billion. In March 1999, MIGA's Council of Governors adopted a resolution for a capital increase of approximately $850 million. The agency received another $150 million in operating capital from the World Bank.
Development Impact
Projects supported by MIGA have widespread benefits: local jobs are created, tax revenue is generated, skills and technological know-how are transferred. Local communities often receive significant secondary benefits through improved infrastructure, including roads, electricity, hospitals, schools, and clean water.
Foreign direct investment supported by MIGA also encourages similar local investments and spurs the growth of local businesses that supply related goods and services. As a result, developing countries have a greater chance to break the cycle of poverty.
MIGA's guarantee coverage requires investors to adhere to social and environmental standards that are considered to be the world's best. Without World Bank Group involvement, projects often go ahead without adequate safeguards.
Unique Strengths
MIGA both supports and draws on the extensive resources of the World Bank Group, applying unparalleled knowledge of emerging economies to the projects it guarantees. MIGA's unique strengths also derive from its structure as an international organization that acts as an umbrella of deterrence against government actions that could disrupt investments, and allows it to influence the resolution of potential disputes.
MIGA's capacity to serve as an objective intermediary enhances investor confidence that an investment going into an emerging economy will be protected against non-commercial risks.