The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank group. The World Bank Group (WBG is a family of five International organizations responsible for providing Finance and advice to countries for the purposes of economic It was established to promote foreign direct investment into developing countries. Foreign direct investment ( FDI) in its classic definition is defined as a company from one country making a physical investment into building a factory in another country Developing countries are countries that haven't reached Western-style standards of democratic government free market economy industrialization social programs and human rights guaranties MIGA was founded in 1988 with a capital base of $1 billion and is headquartered in Washington, D.C.
MIGA promotes foreign direct investment into developing countries by insuring investors against political risk, advising governments on attracting investment, sharing information through on-line investment information services, and mediating disputes between investors and governments. Year 1988 ( MCMLXXXVIII) was a Leap year starting on Friday (link displays 1988 Gregorian calendar) Washington DC ( formally the District of Columbia and commonly referred to as Washington, the District, or simply D Foreign direct investment ( FDI) in its classic definition is defined as a company from one country making a physical investment into building a factory in another country Developing countries are countries that haven't reached Western-style standards of democratic government free market economy industrialization social programs and human rights guaranties Investment or investing is a term with several closely-related meanings in Business management, Finance and Economics, related to saving Political risk insurance is a type of Insurance that can be taken out by businesses of any size against Political risk —the risk that revolution or other political MIGA's strength compared to private providers of political risk insurance is its membership of the World Bank Group, which allows it to intervene with host governments to resolve claims before they are filed.
MIGA provides guarantees against noncommercial risks to protect cross-border investment in developing member countries. A surety is a person who agrees to be responsible for the Debt or obligation of another Guarantees protect investors against the risks of Transfer Restriction, Expropriation, War and Civil Disturbance, and Breach of Contract (for contracts between the investor/project enterprise and the authorities of the host country). These coverages may be purchased individually or in combination.
MIGA can cover only new investments. These include:
Unlike other insurers, MIGA is backed by the World Bank Group and its member countries.
MIGA's President is Bob Zoellick, in his capacity as President of the World Bank Group. Yukiko Omura is Executive Vice President; James Bond occupies the position of Chief Operating Officer; Edie Quintrell is Director of Operations; Peter Cleary is General Counsel; Kevin Lu is Acting CFO; and Frank Lysy is Chief Economist.