Asia and the Pacific
Since its inception, MIGA has issued nearly $2.0 billion in guarantees for more than 100 projects in Asia, with guarantees ranging from less than $200,000 for a project in China to $118 million for an investment in the Philippines.
In fiscal year 2010, MIGA guaranteed two projects in China, totaling $24.2 million. One project consists of the construction and operation of a saltwater desalination plant in Hebei Province. The project is located in a dry area in northern China with limited fresh water. As a result of rapid industrial and economic development, water consumption in the area has been increasing, and water supply has become a significant challenge for the local government. The Caofeidian seawater treatment plant is expected to supply water of 50,000 m³/day to industries and residents in the industrial zone and to contribute to the local government’s objective of developing a recycling economy.
The other MIGA-supported project increases a previous guarantee to cover the expansion of Jingtang Harbor. Given the fast-developing business in the port, the current facilities for the container berths are unable to meet growing demands, and the investor is expanding the two berths in order to increase their capacity to handle container throughput. The project will also improve port functions and efficiency, introduce advanced computer management techniques, increase employment, and contribute to government revenues.
At year-end, MIGA’s gross guarantee exposure in the region stood at $706.4 million, equivalent to 9 percent of the agency’s outstanding portfolio.
Updated October 2010