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MIGA Business Volume Reaches Record High for Fiscal Year 2013

MIGA issued $2.8 billion in in new guarantees for the fiscal year ending June 30, 2013, the third consecutive year of growth for the Agency. At $1.5 billion, representing more than half of new business, the bulk of MIGA’s guarantees issued this year support investments in sub-Saharan Africa. MIGA also increased its collaboration with the World Bank and IFC to mobilize more private investment into its developmentally significant projects.
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MIGA Business Volume Reaches Record High for Fiscal Year 2013

Izumi Kobayashi Reflects on her Tenure as MIGA’s EVP

Izumi Kobayashi completed her term as MIGA’s Executive Vice President on June 30th. In an interview conducted in May, she shares her thoughts on her accomplishments at MIGA and the value of political risk insurance to development. She also discusses some of her most memorable travel experiences.
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Izumi Kobayashi completed her term

Donors Sign on to Conflict-Affected and Fragile Economies Facility

At a signing ceremony in Washington, the government of Canada and the Swedish International Development Authority became the first donors to MIGA’s Conflict Affected and Fragile Economies Facility. The fund will use donor-country funds to provide an initial loss layer to insure investment projects in conflict-affected and fragile countries, with MIGA sharing a portion of the risk. 
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 Donors Sign on to Conflict-Affected and Fragile Economies Facility 

MIGA Expands Non-Honoring of Financial Obligations Coverage for State-Owned Enterprises

In June, MIGA’s Board of Executive Directors authorized the Agency to extend its non-honoring of sovereign obligations cover for lending to credit-worthy state-owned enterprises (SOEs). This is in response to demand from commercial and investment banks seeking to fund projects carried out by financially sound SOEs without a government guarantee.
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MIGA Expands Non-Honoring of Financial Obligations Coverage for State-Owned Enterprises

MIGA and Dubai International Financial Corporation (DIFC) Discuss MENA Risks 

At a May event cohosted by MIGA and DIFC, discussants considered how uncertainty in the MENA region as well as the euro zone and the sovereign debt crises continue to have an impact on businesses across the world. The forum discussed the state of global investment and explored effective risk mitigants—including the role of development finance institutions. 
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MIGA and Dubai International Financial Corporation (DIFC) Discuss MENA Risks

NEW CONTRACTS

Agribusiness
Chobe Agrivision Company Ltd.,Zambia, 45.9M
Silverlands Ranching Limited, Zambia, 8.8M

Financial
GeoCapital, Serbia, 250.1M

Financial
GeoCapital, Georgia, 1.8M
Erste Bank a.d. Novi Sad, Serbia 73.9M

Manufacturing
Traitex Afghanistan,1.2M
Bulleh Shah Packaging (Private) Limited in Pakistan, 72M
Ma San Group Consumer Products Expansion Project, Vietnam, 167.7M

Power
Cambambe Hydroelectric Project-Phase II, Angola, 511M
Triumph Power Generating Company Limited, Kenya, 113.6M

Services
Cotecna de El Salvador S.A. de C.V., 23.8M
Malagasy Community Network Services S.A. – GasyNet, Madagascar, 2.9M

Tourism
Azalaï Abidjan Hotel, Côte d’Ivoire, 7.4M

Transportation
Izmir Marine Transportation Project, Turkey, 65.5M

Water and Wastewater
AS Samra Wastewater Treatment Expansion Project, Jordan, 13.1M

PROPOSED GUARANTEES
In accordance with the agency's disclosure policy, MIGA discloses summaries of all proposed guarantees.

Financial
Hungary Exim Funding Coverage, Hungary, 715M
Raiffeisen Bank AVAL, Ukraine, 142.5M

Power
RED Union Fenosa S.A., Moldova, 190M
Bujagali Energy Ltd, Uganda 18M

Telecommunications
Regional Telecom, Iraq, 10.6M


EVENTS

Global Export Finance Conference, Barcelona, September 23, 2013
East Mediterranean Multilateral Energy Investment Forum, Istanbul, October 22, 2013


RELATED LINKS 

About MIGA
Project briefs
Sector briefs
Investment Guarantee Guide
Guarantee application
Press releases

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