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During the fiscal year ending June 30, 2006, MIGA issued $1.3 billion in investment guarantees (insurance) for 41 projects in developing countries. The results bring total coverage issued by the agency to $16 billion. Many of the projects focused on MIGA's priorities of supporting investment in “frontier markets” (high-risk/low-income), in conflict-affected and IDA-eligible (the world's poorest) countries, and investments between developing countries.  The Highlights section includes messages from President Paul Wolfowitz and Executive Vice President Yukiko Omura. more pdf



Development Impact
Support for infrastructure investment, a World Bank Group priority, reached a record high during the year, with projects in telecommunications, transportation, water, waste management, and power accounting for 36 percent of guarantees issued. Guarantees issued for infrastructure projects since 1990 now surpass the $5 billion mark. This section highlights MIGA's work to promote foreign direct investment (FDI) in infrastructure projects to improve the lives of people throughout the developing world. more pdf



Operational Overview
MIGA's FY06 results came during a year in which FDI into developing countries reached record levels in all regions of the world, but not all these countries were winners, particularly those perceived to be the riskiest. MIGA's guarantees played an important role in encouraging investors and lenders to enter these markets, by providing a unique set of services that ranged from helping investors access financing through capital markets and through the sale of carbon credits. Demand for MIGA's technical assistance services also continued to be strong, resulting in a portfolio of 45 projects in 28 countries. This section also includes information on the agency's online information dissemination services, legal and claims-related activities, and regional activities. more pdf



Independent Evaluation Group and Compliance Advisor/Ombudsman
The Independent Evaluation Group's (IEG) main role is to assess the development effectiveness of MIGA programs, guarantee projects, and technical assistance. The International Finance Corporation (IFC)/MIGA Compliance Advisor/Ombudsman (CAO) is an independent recourse mechanism that reports directly to the President of the World Bank Group. Its mandate is to help the IFC and MIGA address complaints by people affected by projects, and to enhance their social and environmental outcomes. This section highlights the IEG and CAO's activities in FY06. more pdf



Management's Discussion and Analysis (FY06) and Financial Statements
MIGA is financially self-sustaining, and its activities are supported by a robust capital base. The agency prepares its financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP) and International Financial Reporting Standards (IFRS). Full details are available in the Management's Discussion and Analysis section. The financial statements contain MIGA's balance sheet, statement of income, statement of comprehensive income, and more. more pdf



This section provides information on MIGA's governors and alternates, directors and alternates, signatories to MIGA's convention, subscriptions to the general capital increase, and member countries. more pdf