MIGA stands for the Multilateral Investment Guarantee Agency, which is a member of the World Bank Group. MIGA is an international financial institution that provides political risk insurance and credit enhancement to encourage foreign direct investment (FDI) in developing countries.
MIGA was established in 1988 and is headquartered in Washington, D.C., United States. It aims to promote economic growth, poverty reduction, and private sector development in developing countries by helping to attract and retain foreign investment. MIGA provides guarantees to private investors and lenders to protect against risks such as expropriation, breach of contract, currency transfer restrictions, and political violence.
MIGA's guarantees help mitigate political and other non-commercial risks associated with foreign investment, which can provide greater confidence to investors and lenders, thereby encouraging more investment in developing countries. By providing guarantees, MIGA helps reduce the risks associated with foreign investment and promotes private sector participation in key sectors such as infrastructure, manufacturing, agriculture, and services.
MIGA works closely with governments, private sector investors, and other stakeholders to facilitate foreign investment in developing countries. Its guarantees are typically provided to support specific investment projects, and its coverage is available to a wide range of investors, including corporations, financial institutions, and private equity funds. MIGA's guarantees are typically project-specific and are tailored to the unique risks and circumstances of each investment project.
It's important to note that MIGA's guarantees are not meant to replace normal commercial due diligence or to eliminate all risks associated with foreign investment, but rather to help manage and mitigate certain political and non-commercial risks that can be barriers to investment in developing countries.

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