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MIGA: Facilitating Investments in Conflict Affected Countries

MIGA: Facilitating Investments in Conflict Affected Countries

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09/12/2010

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MIGA: Facilitating Investments in Conflict Affected Countries

UN House – Beirut, Lebanon Nabil Fawaz – Sector Leader for Agribusiness Manufacturing and Services November 2008

MIGA promotes foreign direct investment by providing:
 Non-commercial risk insurance (guarantees) for investors and lenders

 Dispute mediation services, to remove obstacles to current and future investment

 Online information on investment opportunities and operating conditions in developing countries

MULTILATERAL INVESTMENT GUARANTEE AGENCY WORLD BANK GROUP

MIGA’s insurance coverage
 Currency Transfer Restriction and Inconvertibility  Expropriation  Breach of Contract  War and Civil Disturbance
– Protects against losses arising from: • Damage/disappearance of tangible assets (including revolution, insurrection, coups d'état, sabotage, and terrorism) • Prolonged business interruption – Acts must have a primary intent of achieving a political objective – Temporary business interruption (proposed change to MIGA’s Operational Regulations)

MULTILATERAL INVESTMENT GUARANTEE AGENCY WORLD BANK GROUP

Portfolio of projects in conflict affected countries
 In FY2007-08, MIGA supported 14 projects with guarantees totaling $401.1 million – This represents 30% of total projects and 12% of guarantees issued – Countries include: • Afghanistan (5) • Bosnia Herzegovina • Central African Republic • Congo – DRC (2) • Guinea • Guinea-Bissau (2) • Uganda (2)  Since its inception, MIGA has supported 159 projects in 24 conflict affected countries with guarantees totaling $2.9 billion
MULTILATERAL INVESTMENT GUARANTEE AGENCY WORLD BANK GROUP

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MIGA’s trust funds in Conflict Affected Countries

 West Bank and Gaza Trust Fund ($30 million)  Afghanistan Investment Guarantee Facility ($12 million with up to $2 million 1st Loss Position)  Bosnia-Herzegovina Trust Fund ($12 million)

MULTILATERAL INVESTMENT GUARANTEE AGENCY WORLD BANK GROUP

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Proposed New Facility for Conflict Affected Countries
 Capacity: $150-$250 million donor trust fund complemented by additional capacity provided by MIGA and other public and/or private insurers Envisaged Features:  1st loss position (up to 50% of insured amount).  Local investments  Stand-alone debt  Existing investments (up to 50% of new investments)
MULTILATERAL INVESTMENT GUARANTEE AGENCY WORLD BANK GROUP

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For more information: Nabil Fawaz nfawaz@worldbank.org www.miga.org

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