WASHINGTON DC, November 11, 2019 – World Bank Group President David Malpass today announced the appointment of Hiroshi Matano as Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA), an arm of the World Bank Group that promotes cross-border investment in developing countries by providing political risk insurance and credit enhancement to investors and lenders. Matano, a Japanese national, is joining the Agency from BOT Lease, a Mitsubishi UFJ Financial Group (MUFG) affiliate company.
“Matano has more than 30 years of experience in banking and finance at MUFG, which is a global leader in project finance. I am pleased to have him lead MIGA, where his background managing assets across global markets will be invaluable for forging partnerships and developing MIGA’s business,” said Malpass.
Matano has been Managing Executive Officer at BOT Lease since June 2017. He also served as Global Head of Structured Finance at MUFG. Earlier in his career, he was seconded to the International Finance Corporation for three years. He holds a Bachelor’s degree from Keio University and a Master’s degree from the Graduate School of Business at Stanford University.
Matano assumes the leadership position previously held by Keiko Honda, who retired from the World Bank Group on October 31, 2019. Under Honda’s tenure, MIGA expanded its IDA, climate and overall portfolio, enhanced cooperation with other MDBs, and strengthened MIGA as a global risk insurer in development finance.
Matano will take up his new position on December 16, 2019.
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 & civil disturbance; and offering credit enhancement to private investors and lenders.
Since its creation, MIGA has issued over $55 billion in guarantees across 114 developing countries.
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