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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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Explore global projects that support economic growth, reduce poverty and improves people’s lives.

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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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World Bank building

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

Our Impact Dropdown Description

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.

Our Products Dropdown Description

Young woman bending down to tending to her outside chores

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

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Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Nicaragua

Ormat Momotombo Power Company

$63.3 million
Power
Project Brief
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MIGA continued its support for the Ormat Momotombo Power Company in Nicaragua with the issuance of a $63.3 million guarantee to Bank Hapoalim of Israel for its loan to the power company. MIGA guaranteed an equity investment in the project last fiscal year. The insurance covers the project against the risks of transfer restriction, expropriation, and war and civil disturbance. The project involves the rehabilitation and expansion of an environmentally friendly geothermal power generation plant and associated facilities.

The project expects to offer electricity at a lower cost than most competitors, helping to lower the weighted average cost of electricity in Nicaragua. The upgrades, introducing additional capacity, will also bring the project into compliance with modern industry environmental standards. The plant will pay approximately $11 million in taxes and procure 90 percent of its goods and services locally.

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