Middle East and North Africa
Since its inception, MIGA has issued nearly $1 billion in guarantees for more than 20 projects in twelve countries in the Middle East and North Africa region. These guarantees have covered investments in general banking, manufacturing, sanitation services, sewerage systems, oil and gas, telecommunications, and tourism. Some $881 million in guarantees have also been issued to MENA-based companies and banks investing in developing countries outside the region.
MIGA’s West Bank and Gaza Investment Guarantee Trust Fund, co-sponsored by the EIB, the Government of Japan, and the Palestinian Authority, encourages investment in the West Bank and Gaza and was expanded in fiscal year 2009 to offer coverage to local as well as foreign investors.
During the fiscal year 2010, MIGA did not issue any new guarantees in the region. At year-end, MIGA’s gross guarantee exposure in MENA stood at $494.5 million, or 6 percent of the agency’s outstanding portfolio.
Updated October 2010