MIGA Annual Report 2010, Volume 1

The Multilateral Investment Guarantee Agency's (MIGA's) mandate to promote foreign direct investment into developing countries to improve people's lives and create more opportunities remains more important than ever. Despite a challenging business climate, during the past year MIGA sought out and supported projects that contributed to its mission and growth. In fiscal year 2010, MIGA provided $1.5 billion in new guarantee coverage. This amount targeted a wide range of projects across all regions from bank liquidity in Serbia and Latvia to guarantees on complex port projects in Turkey, China, and Senegal. Over the past year MIGA supported investments in frontier markets, such as Sierra Leone and Ethiopia. And as was the case last year, MIGA experienced a lower-than-usual level of cancellation. MIGA also continued to support financial flows from banks to their subsidiaries in Europe and Central Asia that were harmed by the financial crisis. Beyond the financial sector, MIGA supported clients seeking political risk insurance for energy and infrastructure investments with a strong development impact. The projects that MIGA supports create jobs; provide water, electricity, and other basic services; strengthen financial systems; generate tax revenues; transfer skills and technological know-how; and help countries tap natural resources in an environmentally sustainable way. MIGA again demonstrated thought leadership in the political risk insurance arena. The report fills an information gap and underlines that investors view political risk as the most important short- and medium-term obstacle to investing in developing countries. MIGA's management continues to focus on change to increase effectiveness and improve efficiency for investors and lenders. MIGA has also worked more closely with other units of the World Bank Group to ensure the best use of the Bank Group's expertise, products, and services.

Bibliographic Details

Main Author:	Multilateral Investment Guarantee Agency
Format:	World Bank Annual Report biblioteca
Language:	English
Published:	Washington, DC: World Bank 2010
Subjects:	ADVISORY SERVICES, ARBITRATION, AUDIT COMMITTEE, BANK LIQUIDITY, BANKING SUPERVISION, BANKS, BUSINESS CLIMATE, BUSINESS DEVELOPMENT, COMMERCIAL LENDERS, CREDITS, DEBT, DEBT CRISIS, DEVELOPING COUNTRIES, ECONOMIC GROWTH, ECONOMICS, EIB, EMERGING MARKETS, EMERGING-MARKET, EQUITY FUND, EXPOSURE, FEE INCOME, FINANCE CORPORATION, FINANCIAL CRISIS, FINANCIAL FLOWS, FINANCIAL INFRASTRUCTURE, FINANCIAL MARKETS, FINANCIAL SECTOR, FINANCIAL SYSTEMS, FOREIGN DIRECT INVESTMENT, FREE LOANS, GLOBAL ECONOMY, GLOBALIZATION, GUARANTEE AGENCY, INFORMATION GAP, INFRASTRUCTURE INVESTMENTS, INSURANCE, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL FINANCE, INVESTING, INVESTMENT INCOME, INVESTMENT PROJECTS, ISSUANCE, LENDERS, LIABILITY, LOW-INCOME COUNTRIES, MULTILATERAL DEVELOPMENT, NATURAL RESOURCES, NEW BUSINESS, OPERATING INCOME, POLITICAL RISK, POLITICAL RISK INSURANCE, POLITICAL UNCERTAINTIES, PORTFOLIO, PRIVATE CAPITAL, PRIVATE EQUITY, PRIVATE SECTOR DEVELOPMENT, RECAPITALIZATION, REINSURANCE, RISK MANAGEMENT, SETTLEMENT, SHAREHOLDERS, SOVEREIGN DEBT, SUBSIDIARIES, SUSTAINABLE DEVELOPMENT, TAX, TECHNICAL ASSISTANCE, TRANSITION COUNTRIES, UNDERWRITING,
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=000333038_20111204225440 http://hdl.handle.net/10986/4365
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