World Bank Group’s Investment Climate Advisory Services to Integrate
Developing countries seeking the World Bank Group’s advice on how to attract private investment and improve investment climates will now have one port of call, thanks to the integration of MIGA’s technical assistance team into the Foreign Investment Advisory Service (FIAS).
Since its inception, MIGA has provided a broad-based package of assistance that helps build the institutional capacity of investment promotion intermediaries in areas such as strategic planning, investor marketing, and sector targeting. FIAS was established 20 years ago by IFC and has since grown to include the World Bank and a dozen other donors. It is administered by IFC and is a central element of its Business Enabling Environment business line, a global advisory services program with teams in all regions.
Consolidation a Win-Win for All
Yukiko Omura, MIGA’s Executive Vice President, says the rationale behind the move is clear, given that close to half of the agency’s Advisory Services activities are already being done with FIAS. “This just really formalizes the partnership and should help us streamline and reduce costs,” she says.
“The integration of MIGA’s work with the rest of our Advisory Services will enable us to provide a more comprehensive service to clients,” says Pierre Guislain, the Bank Group’s Director of Investment Climate, who heads FIAS and is also IFC’s business line leader for Business Enabling Environment.
Combining the investment climate reform work of FIAS (and the BEE network) with MIGA’s investment promotion work will allow the Bank Group to help countries get the framework right for investment, and then market the improved environment, all from a single platform. It will also create a more streamlined interface for the Bank as well as donors, an important source of funding for private sector Advisory Services.
“This consolidation is good for countries, clients, World Bank Group staff, and donors,” says Omura.