Celebrating 35 years since its founding, in FY23 MIGA issued a record $6.4 billion in new guarantees across 40 projects. Through these projects, the Agency remained focused on encouraging private investors to help host governments manage and mitigate political risks. Working with clients and partners, MIGA supported $8.6 billion in total financing (from private and public sources). Almost all of the Agency’s projects supported at least one of its three priority areas: 27 percent of gross issuances went to IDA-eligible (lower-income) countries, 19 percent went to fragile and conflict-affected countries, and 28 percent of the total guaranteed investment of the projects contributed to climate finance.
As a result, our FY23 issuances are expected to help create 8,774 jobs and enable $2.6 billion in loans, including for small and medium enterprises and climate-related activities. In addition, MIGA projects connected 55 million people to mobile telephone networks and 40 million to the internet.
In FY23, as it did during the COVID-19 pandemic, MIGA demonstrated its agility to respond to crisis, employing multiple products during the year to assist the embattled people of Ukraine following Russia’s invasion.
An institution of the World Bank Group, MIGA is committed to strong development impact and supporting 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. It also offers trade finance guarantees, as well as credit enhancement on obligations of sovereigns, sub-sovereigns, state-owned enterprises, and regional development banks.
Celebrating 35 years since its founding, in FY23 MIGA issued a record $6.4 billion in new guarantees across 40 projects. Through these projects, the Agency remained focused on encouraging private investors to help host governments manage and mitigate political risks. Working with clients and partners, MIGA supported $8.6 billion in total financing (from private and public sources). Almost all of the Agency’s projects supported at least one of its three priority areas: 27 percent of gross issuances went to IDA-eligible (lower-income) countries, 19 percent went to fragile and conflict-affected countries, and 28 percent of the total guaranteed investment of the projects contributed to climate finance.
As a result, our FY23 issuances are expected to help create 8,774 jobs and enable $2.6 billion in loans, including for small and medium enterprises and climate-related activities. In addition, MIGA projects connected 55 million people to mobile telephone networks and 40 million to the internet.
In FY23, as it did during the COVID-19 pandemic, MIGA demonstrated its agility to respond to crisis, employing multiple products during the year to assist the embattled people of Ukraine following Russia’s invasion.
An institution of the World Bank Group, MIGA is committed to strong development impact and supporting 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. It also offers trade finance guarantees, as well as credit enhancement on obligations of sovereigns, sub-sovereigns, state-owned enterprises, and regional development banks.