In fiscal year 2012, MIGA issued $2.7 billion in investment guarantees for 52 projects in MIGA’s developing member countries. This represents a 27 percent increase over last year’s record high issuance. Fifty-eight percent of MIGA’s new business volume this year was in the infrastructure sector, a strategic priority for the Agency. This included power and transportation projects in Albania, Côte d’Ivoire, Ghana, Kenya, Pakistan, Panama, Rwanda, Tunisia, and Senegal. Overall, 70 percent of MIGA’s new volume this year fell into one or more of MIGA's priority areas: investments in the world's poorest countries, "South-South" investments, investments in conflict-affected countries, and investments in complex projects. Read the report's introductory pages for more highlights.
MIGA focused on encouraging and sustaining foreign direct investment flows in a climate of increased risk aversion. In many instances, MIGA plays a counter-cyclical role to accomplish this—for example, supporting banks that are tempted to deleverage in times of stress, entering projects when other insurers exit, and being among the first actors to engage as a country emerges from conflict. MIGA continued its commitment to the Middle East and North Africa, issuing $442 million in coverage for projects in the region. Read the report's Development Impact section for more.