Washington, April 29, 2026—The Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform, and UK Export Finance (UKEF), the U.K. government’s export credit agency, today signed a memorandum of understanding (MOU) to promote foreign direct investment and create jobs in developing countries.
Under the MOU, MIGA and UKEF will jointly explore opportunities to provide guarantees and insurance for investments in projects in sectors including renewable energy, transport, logistics and connectivity, agribusiness, water, sanitation, health and social infrastructure, among others of mutual alignment.
Countries and regions for potential cooperation could include Africa, Eastern Europe, the Baltics, and Central Asia.
The cooperation could also extend to seminars, trainings and staff exchanges between MIGA and UKEF. Both parties have committed to hold regular consultations to identify opportunities for collaboration and engage in early-stage exchanges of information on potential joint projects, which could also include the supply of goods and services to developing countries by U.K. businesses.
Tsutomu Yamamoto, Managing Director of MIGA, said: “Guarantees are critical to attracting more foreign direct investment into projects that will ultimately create jobs and increase resilience in developing countries. The United Kingdom is a long-standing and valued development partner of MIGA and the broader World Bank Group, and we look forward to deepening our collaboration to help channel more private capital to maximize our development impact around the world.”
Tim Reid, CEO at UK Export Finance, said: “The signing of today’s MOU between UK Export Finance and the Multilateral Investment Guarantee Agency marks a positive shift in our relationship with the World Bank Group. As a leading multilateral institution, MIGA provides exceptional investment guarantee services, while UKEF is renowned for its export finance capabilities. By joining forces, we can offer enhanced support for projects that promote global growth and development. This agreement establishes a foundation for deeper, long-term collaboration, creating tangible benefits for UK exporters and the countries in which they operate, and I am delighted to be in Washington to make this partnership official.”
About UKEF
UK Export Finance (UKEF) is the UK's export credit agency and a government department. It works with over 100 private credit insurers and lenders to help UK companies win, fulfil and get paid for export contracts. In 2024/2025, UKEF provided a record £14.5 billion in new financing, helping over 667 UK companies to export and grow and has supported up to 70,000 jobs.
About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
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Contact: In Washington: Elizabeth Howton, ehowton [at] worldbankgroup.org