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Middle East and North Africa

The Middle East and North Africa (MENA) is at a critical crossroads and the World Bank Group, including MIGA, has a vital role to play in helping the region lay the foundation for stability and shared prosperity.

The COVID-19 pandemic has brought severe economic and social losses to MENA countries. Responding to the crisis, the Bank Group quickly started to provide support, which includes financing, policy advice and technical assistance, to help countries cope with the urgent health needs and improve safety net systems.

As of October 2020, GDP in MENA was estimated to contract by 5.2% in 2020, which is 4.1 percentage points below the forecast in April 2020. The region is expected to recover in 2021.

MIGA MENA Infographic Gross Portfolio FY16-FY21


MIGA’s work in the MENA region covers a wide range of sectors, such as agribusiness, manufacturing, power and water. Climate finance is one of the Agency’s top priorities, and the backing of four solar power plants in Jordan in 2015 was its first renewable energy project in the region. Since 2018, MIGA has also been supporting Egypt’s Solar Feed-in-Tariff (FiT) Program, aimed at mobilizing private investments to build the Benban Solar Park, one of the world’s largest solar PV generation complexes.

In FY20, MIGA strengthened its climate finance commitments in the MENA region by issuing guarantees to cover six additional solar power plants in Egypt’s Benban Solar Park, and a wind farm project in Djibouti. The total guarantee amount reached $168 million.

MIGA MENA Infographic DEIS FY15-FY21




In March 2020, MIGA issued guarantees to support the operation and maintenance of six additional solar power plants at the Benban Solar Park in Egypt. The new plants are part of the country’s landmark solar Feed-in-Tariff (FiT) Program, which mobilizes private investments to build one of the world’s largest solar photovoltaic (PV) generation parks.

The guarantees have been issued to Scatec Solar, which has extensive experience delivering sustainable clean energy systems and has worked with MIGA on multiple projects in the past. Amounting to US$52.35 million, the guarantees cover Scatec’s investments in the project against the risk of Currency Inconvertibility and Transfer Restriction for up to 15 years.

In 2018, MIGA issued $16.2 million in guarantees covering the investment of Paşabahçe, a glassware company of the Şişecam Group, in a glassware manufacturing plant in Egypt. The guarantees cover 90 percent of the investment for up to 15 years against the risks of Transfer Restriction, Expropriation, and War and Civil Disturbance.

Paşabahçe’s investment is in support of acquiring and operating the plant, upgrading equipment, and increasing capacity for manufacturing high-quality glass tableware. Improvements to the plant include three additional production lines and adoption of new technologies.


Following a successful run at improving electricity distribution in northern Lebanon, MIGA extended its guarantees in April 2019 to support the ongoing design, upgrade, maintenance and operation of an electricity distribution network in the country.

The guarantees, amounting to $35.5 million, are being issued to Butec Utility Services (BUS) equity holders Butec International Limited (Cyprus) and El-Sewedy Electrometer Egypt, against the risks of Breach of Contract, and War and Civil Disturbance.


In March 2018, MIGA issued guarantees of up to $195,154,839 to Meridiam Eastern Europe Investments 2 SAS (Meridiam) of France for its equity/ quasi-equity investment into Airport International Group (AIG), the current concessionaire of the Queen Alia International Airport (QAIA) in Jordan. The guarantees were issued for a period of up to 15 years against the risks of Transfer Restriction, Expropriation, War and Civil Disturbance and Breach of Contract.

The investment by Meridiam will enable capital expenditures to be directed towards optimizing the commercial activities of Jordan’s principal airport, which is expected to lead to higher non-aeronautical revenues, thereby generating additional revenues for Jordan while enhancing the passengers’ travel and retail shopping experience.


MIGA has agreed to issue guarantees of up to $195.15 million to Meridiam Eastern Europe Investments 2 SAS of France for its equity/quasi-equity investment into Queen Alia International Airport in Jordan.

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On June 27, 2013, MIGA issued guarantees of $13.1 million covering equity investments (including future retained earnings and performance bond) by Suez Environnement, SA (Suez), Infilco Degremont, Inc. (IDI), and Morganti Group Inc. (Morganti) in the As-Samra Wastewater Treatment Project in Jordan. The coverage is for a period of up to 20 years against the risk of breach of contract.

The project involves the expansion of the existing wastewater treatment plant at As-Samra, northeast of Amman by Samra Wastewater Treatment Plant Company, Ltd., on an extended 25-year build-operate-transfer (BOT) basis. The total investment for the expansion is estimated at $205.3 million. The project will increase the wastewater treatment capacity by some 37 percent, from the current 267,000 m³ per day to 365,000 m³ per day, to meet the needs of the population from 2015 to 2025. 


West Bank and Gaza Investment Guarantee Trust Fund

The West Bank and Gaza Investment Guarantee Trust Fund was established in 1997 by MIGA, the Palestinian Authority, Japan’s Ministry of Finance, and the European Investment Bank. It assists the West Bank and Gaza, a fragile and conflict-affected situation (FCS), in attracting foreign direct investments (FDI), and in turn promoting local private sector investments and contributing to reconstruction and economic growth. The fund offers foreign and local private sector investors insurance that allows them to manage non-commercial risks.

The trust fund has been supporting a number of projects across Palestine, including Nakheel Palestine for Agricultural Investment, Al Haram Modern Plastic Products Industry Company, Al Jebrini Cheese Industry, Beit Jala Pharmaceutical Company, National Beverage Company (Gaza Branch), and a landmark solar energy plant in Gaza.


Nourah Mehyar from Jordan Wins MIGA's Inaugural Gender CEO Award

In March 2016, MIGA awarded Nourah Mehyar, CEO of NAFITH Logistics—a multinational logistics company based in Jordan, its inaugural Gender CEO Award. MIGA insures NAFITH’s investment in Iraq, which involves building and managing a system in the Basra governorate to control trucks entering and exiting three ports and the Safwan border crossing with Kuwait.

Under the leadership of Nourah Mehyar, NAFITH Logistics set up subsidiaries in developing economies in the Middle East, including fragile and conflict-ridden areas. These businesses have modernized networks, created jobs, empowered women and had significant impact on local and national economies.


MIGA & ICIEC Strengthen Commitment to Cooperation 

In April 2019, MIGA and ICIEC, a member of the Islamic Development Bank Group that provides investment and export credit insurance for Islamic countries, signed a Memorandum of Understanding. The MoU envisions greater cooperation in utilizing the Agencies’ respective financial products in joint projects.

Products included in this arrangement include political risk insurance and credit enhancement, through co-insurance and reinsurance arrangements. The MoU also calls for greater coordination on marketing and underwriting on joint projects.



Contact Us:

  • Layali Abdeen   Senior Underwriter, Middle East and North Africa

  • Yann Burtin   Senior Underwriter (for Maghreb Countries)


(Last Updated: August 16, 2021)