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Korean Firms Receive MIGA Cover for Hydropower Project in Pakistan MIGA has issued guarantees of $148.5 million covering an equity investment by Korea Water Resources Corporation (K-Water) and Daewoo Engineering & Construction (Daewoo) in Star Hydro Power Limited incorporated in Pakistan. This is the first time MIGA has provided cover for a Korean company. The project involves the development, construction, and operation of a 147 megawatt run-of-the-river hydropower plant. |
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MIGA and IFC Step up Collaboration In June, MIGA and IFC signed a memorandum of understanding that will enable eligible commercial lenders participating in IFC B-loan syndications to obtain MIGA's political risk insurance for war and civil disturbance. This collaboration is occurring under the IFC/MIGA Business Development Partnership, which encourages the institutions to work together for the benefit of World Bank Group clients, particularly in the world's poorest countries. |
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MIGA Backs Uzbekistan's First Project Financing MIGA played an instrumental role in helping LUKOIL Overseas Uzbekistan secure a large project finance deal for the upstream gas development of the Khauzak-Shady Block and Kandym Field Group. The agency issued a guarantee of $119.5 million to BNP Paribas (Suisse) SA of Switzerland-acting for itself and Crédit Agricole Corporate and Investment Bank and the Korean Development Bank—to cover a non-shareholder loan to LUKOIL Overseas Uzbekistan Ltd. The Asian Development Bank and the Islamic Development Bank also provided $200 million in financing. |
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Boosting Sustainable Agriculture in Zambia In Zambia, MIGA client Chayton Africa is introducing efficient agricultural practices such as crop rotation and zero tillage, soil and water management, and technological improvements to help the country increase its agricultural output. Chayton Africa is one of several MIGA clients benefiting from the agency's master contract for private equity funds. |
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Niger Becomes MIGA's 177th Member Foreign direct investment going into Niger is now eligible for MIGA'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 Niger going into other developing countries may also receive coverage for their investments from MIGA. |
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NEW CONTRACTS Banking and Financial Services PROPOSED GUARANTEES RELATED LINKS |
