Multilateral Investment Guarantee Agency

(redirected from MIGA)
Also found in: Acronyms, Encyclopedia.

Multilateral Investment Guarantee Agency (MIGA)

Agency established by the World Bank that offers various forms of political risk insurance to corporations.

Multilateral Investment Guarantee Agency

An agency of the World Bank that seeks to promote foreign direct investment in developing countries. It does this primarily by selling political risk insurance to corporations that wish to expand into the developing world. It also provides advisory services to governments in these countries on how best to attract investment. It was established in 1988 and is based in Washington, DC.
References in periodicals archive ?
MIGA guarantees as high as 90 percent of the investment money and up to 95 percent of the original loan.
Bond added that the annual support provided by MIGA is about $1.
Izumi Kobayashi, MIGA's Executive Vice President, notes the initiative is strongly aligned with World Bank and MIGA objectives as well as MIGA's commitment to respond to countries hit by the financial crisis.
What are the main institutions that MIGA deals with in Egypt?
The DIFC and MIGA are working closely to nurture, assist and support the industry to expand and gain depth," said Abdulla Al Awar, chief executive of the DIFC Authority.
In the MIGA report cited earlier, the agency maintains that insurance against the possibility that a government will impose currency transfer restrictions, or that a currency will become difficult to convert into a major international currency, whether caused by government or market actions, will "protect against losses arising from an investor's inability to convert local currency .
While it might take four months to get political risk insurance coverage through OPIC or MIGA, in the private market the project could gain insurance within a month, and in some cases, in as little as two days, Minor said.
Omura, who is currently running a charitable company in London to raise finances for worldwide AIDS prevention, will replace Motomichi Ikawa, also a Japanese national, as MIGA executive vice president, the group said.
MIGA, therefore, offers insurance for investment projects not yet protected by insurance.
Under the joint financing scheme, MITI will guarantee $400 million worth of loans by a syndicate of commercial banks led by Deutsche Bank and the Industrial Bank of Japan, MITI and MIGA said in a statement.
3 million underground gold and silver mine against "the risks of currency transfer restriction, expropriation and war and civil disturbance," according to MIGA.
Some companies believe purchasing political risk insurance from OPIC or MIGA has an added element of prevention.