Yugoslavia Joins World Bank Group's MIGA

Yugoslavia Joins World Bank Group's MIGA

WASHINGTON, DC, May 7, 2002 — The Federal Republic of Yugoslavia became the 155th member of the World Bank Group's Multilateral Investment Guarantee Agency (MIGA), with the recent completion of its membership requirements.

The republic finalized the requirements to succeed the Socialist Federal Republic of Yugoslavia as a member of MIGA, in accordance with a resolution approved by MIGA's Board in 1993.

"Yugoslavia's membership paves the way for us to facilitate investment into the country, and to provide guarantees to investors within the republic who wish to take their business into other developing countries," says Motomichi Ikawa, executive vice president of MIGA.

The membership follows a recent World Bank structural adjustment credit for $70 million, focused on poverty reduction and sustainable growth. Yugoslavia became a member of the World Bank in May 2001.

For information:
In Washington:
Angela Gentile, agentile@worldbank.org,
t. 202.473.3509
In Paris:
Christophe Bellinger, cbellinger@worldbank.org,
t. 33.140693275