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MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

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Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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Explore different types of political risk insurance guarantees provided to investors and lenders.

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Press Release

MIGA EVP Hiroshi Matano to Visit Senegal

WASHINGTON DC, May 29, 2022 — Hiroshi Matano, Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA), will visit Senegal to meet with government officials and private sector investors, and tour the Parc Eolien Taiba N’Diaye wind farm, a MIGA-supported project during a three-day visit starting May 30.

Matano will head a MIGA delegation that will meet with Senegalese government ministries (Finance, Economy, Infrastructure, and Water) and private sector investors to deepen collaboration on infrastructure projects in Senegal.

The delegation will also meet with Senegal’s sovereign wealth fund, Le Fonds Souverain d’Investissements Stratégiques (FONSIS) and the Agency for Investment Promotion and Major Projects (APIX, Promotion des Investissements et Grands Travaux Sénégal), which is tasked with assisting the Senegalese government in the design and implementation of policy in these areas. Discussions with these agencies will focus on the role of promoting private investments in Senegal.

“MIGA is committed to mobilizing private sector investment into Senegal and delivering development impact,” said MIGA Executive Vice President Hiroshi Matano. “Our discussions with the Government and investors will further strengthen collaboration in key areas, including public infrastructure, climate, and the clean energy transition.”

In 2018, MIGA issued a guarantee of €128.1 million to support the construction of the first industrial-scale wind farm in Senegal. Matano will tour the now operational Parc Eolien Taiba N’Diaye during his visit, which consists of 46 turbines. The wind farm and other MIGA guaranteed projects in Senegal are currently providing power to 4.4 million people, generating nearly 2GWh of power annually, and avoiding emissions of 363,000 tons of CO₂ per year.

MIGA’s support for infrastructure projects in Senegal extends back to 2010 when it issued guarantees to support the renovation of the Dakar port into a world-class container terminal.

 

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MIGA was created in 1988 as a member of the World Bank Group to promote foreign direct investment in emerging economies by helping mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance; and offering credit enhancement to private investors and lenders.

Since its creation, MIGA has issued over $65 billion in guarantees across 120 developing countries.

 

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