MIGA Welcomes Comoros as New Member Country
View the press release in French
WASHINGTON, March 13, 2013—The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group, announced today that Comoros has fulfilled all of its membership requirements to become MIGA's 179th member country.
Comoros's membership in MIGA means that direct foreign investment into the country is eligible for the agency's political risk insurance. This insurance protects investments against the risks of transfer restriction, expropriation, breach of contract, non-honoring of sovereign financial obligations, and war and civil disturbance. Investors from Comoros going into other developing countries may also receive coverage for their investments from MIGA.
"We extend a warm welcome to Comoros," said Izumi Kobayashi, MIGA's Executive Vice President. "Our focus is on markets where we can make the greatest difference, including in fragile countries and those eligible for concessional lending from the International Development Association." She continued, "We hope that MIGA's support will promote productive and sustainable foreign direct investment into the country to benefit the people of Comoros."
MULTILATERAL INVESTMENT GUARANTEE AGENCY
A Member of the World Bank Group
1818 H Street, NW, Washington, DC 20433
Mallory Saleson, MIGA
Tel: +1 202 473-0844
Rebecca Post, MIGA
Tel: +1 202-473-1964
Cara Santos Pianesi