MIGA and OPIC Establish Political Risk Facility for Agribusiness Investments 

MIGA and the Overseas Private Investment Corporation (OPIC) have established a $350 million political risk facility that will support a private equity fund’s planned investments in sustainable agribusiness in up to 13 countries throughout sub-Saharan Africa. Under the facility, OPIC will serve as primary provider of the political risk coverage that will protect each of the investments made by the fund. MIGA as reinsurer will take on 60 percent of the risk of each investment. OPIC originally helped capitalize this fund in 2011.
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 MIGA Launches New Operational Strategy to Achieve Greater Impact

MIGA Continues its Support to Kenya’s Power Sector

In June, MIGA announced it is providing 15-year war and civil disturbance coverage on Standard Bank’s loan to Gulf Power Limited, an independent power producer in Kenya. This represents the first time a MIGA guarantee will be issued to a participant in a B Loan arranged by the International Finance Corporation (IFC). Gulf Power is the fourth IPP in Kenya to benefit from a combination of IFC financing, partial risk guarantees from the International Development Association, and MIGA’s political risk insurance. Together, these IPPs are expected to add nearly 300 megawatts to the grid.
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South Sudan Signs Host Country Agreements during World Bank Group Spring Meetings

First MIGA Guarantee in Lebanon Will Help Build Country’s Power Infrastructure 

MIGA is providing guarantees of $35.5 million to Butec International of Cyprus and El Sewedy Electrometer Group of Egypt to cover equity and future earnings under a contract with Lebanon’s state-owned utility company. The upgrades to Lebanon’s electricity infrastructure are urgently needed to stem losses estimated at $300 to $400 million annually. The services provided include operations and maintenance, planning and design, construction, network surveys, establishment of call and contact centers, meter reading, and reduction of non-technical losses.
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MIGA Announces New Heads of Infrastructure, Asia Hub 

World Bank Group Commitments Rise Sharply in Fiscal Year 2014

World Bank Group support to developing countries rose sharply to $61 billion in fiscal year 2014 as the organization prepared for transition to a new operating model, up from $52.6 billion in fiscal year 2013. MIGA saw a record $3.2 billion in new business this year—continuing a strong pattern of growth.
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MIGA Backs Debt Financing for Public Infrastructure in Vietnam 

NEW CONTRACTS 

Leasing
L.C.S. Raiffeisen Leasing S.R.L, Moldova 6.5M

Transporation
Nafith Logistics - Iraq Branch, Iraq 8.3M

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

Agribusiness
Chobe Agrivision Company Ltd., Zambia, 26.6M

Financial
AFP Crecer S.A., El Salvador,
El Salvador Cameroon, 103M

Manufacturing
Mosel Scientific for Factories Rehabilitation and Operation and Marketing Ltd.,
Iraq, 54M
 

Power
Qua Iboe Power Project,
Nigeria, 540M


EVENTS
15th Annual Global Export Finance Conference (MIGA speaking) 
Barcelona, Spain, September 9 to 10, 2014


RELATED LINKS 

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

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