MIGA Annual Report 2009
For Multilateral Investment Guarantee Agency (MIGA), the challenge this year has been promoting foreign direct investment (FDI) into developing countries at a time when investment flows are slumping. While many investors shied away from projects be...
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Format: | World Bank Annual Report |
Language: | English |
Published: |
Washington, DC: World Bank
2012
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Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20091208015143 http://hdl.handle.net/10986/4357 |
Summary: | For Multilateral Investment Guarantee
Agency (MIGA), the challenge this year has been promoting
foreign direct investment (FDI) into developing countries at
a time when investment flows are slumping. While many
investors shied away from projects because of the difficult
investment climate, those who have been doing business
recognized the need for the kind of political risk
guarantees MIGA provides. This year, MIGA provided $1.4
billion in guarantees for a range of projects, down from the
agency's banner year of $2.1 billion in guarantees in
2008. But MIGA also experienced far fewer cancellations of
existing coverage this year than in previous years. MIGA is
also supporting projects to help the most vulnerable. This
year, the agency entered into an innovative contract to
facilitate up to $100 million of investments to small and
medium-size enterprises in Sub-Saharan Africa, businesses
which account for most of the continent's jobs. MIGA
has also focused on internal changes. At a time of financial
crisis, promoting FDI depends on moving quickly to meet the
emerging needs of clients. This will enhance MIGA's
operational flexibility and procedural efficiency, and
should lead to more business while strengthening MIGA's
position as a self-standing enterprise. |
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