MIGA CEO Keiko Honda in France to Mark Thirty Year Anniversary

WASHINGTON DC, May 24, 2018 — Keiko Honda, Executive Vice President and CEO of the Multilateral Investment Guarantee Agency (MIGA)—the political risk insurance arm of the World Bank Group—is in Paris on May 30 to mark MIGA’s Thirty Year Anniversary with private sector investors and government officials.

While in France, Honda will also take stock of progress on MIGA’s support for French firms, and explore opportunities for supporting further private sector activity.

"Our largest exposure among investor countries is with French firms," said Honda. "MIGA has had a longstanding and deep relationship with French investors over the past 30 years, and I look forward to much more in the future."

MIGA currently guarantees over thirty projects financed by French investors, amounting to some $3 billion in political risk insurance and credit enhancement. Recent sectors MIGA has worked on with French firms include healthcare in Turkey, and infrastructure and energy in multiple countries in Sub-Saharan Africa.

As a member of the World Bank Group, MIGA is focused on development impact by helping mobilize private capital in host countries. Projects financed by French investors and lenders that MIGA is working with are expected to support the creation of approximately 5,100 direct jobs, generate around $400 million annually in government revenues, and support local economies with $214 million per annum of locally-procured goods.

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MIGA was created in 1988 as a member of the World Bank Group to promote foreign direct investment in emerging economies by helping mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance; and offering credit enhancement to private investors and lenders.

This year marks MIGA’s 30th Anniversary. Over the last three decades, MIGA has directly supported almost $47 billion in investments for over 830 projects in 111 developing countries.

Contacts

In Washington:  Vamsee Krishna Kanchi, (202) 458-9771, vkanchi@worldbank.org

For more information, please visit: miga.org

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