In FY22, MIGA issued $4.9 billion in new guarantees across a record 54 projects. Through the projects we supported, we remained focused on encouraging private investors to work with host governments by helping manage and mitigate political risks. Working with our clients and partners, we supported $6.5 billion in total financing (from private and public sources). Almost a third of our gross issuances supported projects in IDA (lower-income) countries; 12 percent went to fragile and conflict-affected countries; and 28 percent of the total guaranteed investment of the projects supported contributed to climate finance.
As a result, our FY22 issuances are expected to help provide access to power to some 15 million people, support nearly 20,000 jobs, and enable $1.9 billion in loans, including those for small and medium enterprises and climate-related activities. Since its inception in April 2020, the Agency has also issued $7.64 billion of guarantees through its COVID-19 Response Program, a testament to the countercyclical role that MIGA can play in mobilizing private investment in the face of the pandemic.
An institution of the World Bank Group, MIGA is committed to strong development impact and promotion of projects that are economically, environmentally, and socially sustainable. MIGA helps investors mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance, as well as offering credit enhancement on sovereign obligations.
In FY22, MIGA issued $4.9 billion in new guarantees across a record 54 projects. Through the projects we supported, we remained focused on encouraging private investors to work with host governments by helping manage and mitigate political risks. Working with our clients and partners, we supported $6.5 billion in total financing (from private and public sources). Almost a third of our gross issuances supported projects in IDA (lower-income) countries; 12 percent went to fragile and conflict-affected countries; and 28 percent of the total guaranteed investment of the projects supported contributed to climate finance.
As a result, our FY22 issuances are expected to help provide access to power to some 15 million people, support nearly 20,000 jobs, and enable $1.9 billion in loans, including those for small and medium enterprises and climate-related activities. Since its inception in April 2020, the Agency has also issued $7.64 billion of guarantees through its COVID-19 Response Program, a testament to the countercyclical role that MIGA can play in mobilizing private investment in the face of the pandemic.
An institution of the World Bank Group, MIGA is committed to strong development impact and promotion of projects that are economically, environmentally, and socially sustainable. MIGA helps investors mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance, as well as offering credit enhancement on sovereign obligations.