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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.

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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.

West Bank and Gaza

Solomon Pools Company

$5 million
Tourism
Project Brief
Not Active
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In its first project in the West Bank and Gaza, MIGA insured an investment by Phoenix International Limited of the United Kingdom for the establishment of a cultural center for tourists and business visitors. The $5.0 million coverage was issued through the West Bank and Gaza Investment Insurance Trust Fund, and covers the investment against the risks of transfer restriction, expropriation, and war and civil disturbance.

MIGA created the Fund in 1997 to promote foreign investments in the West Bank and Gaza. The Fund is currently financed by the European Investment Bank, the Japanese government and the Palestinian National Authorities.

The project enterprise, Solomon Pools Company, located just south of Bethlehem, comprises several historically-significant archaeological sites, including a spectacular 400-year old Ottoman fortification and three ancient clear-water cisterns, dating back to the Herodian era more than 2,000 years ago. The project is designed to restore and enhance the historic and cultural significance of the site. It includes the creation of several restaurants, a professional crafts center, a museum, an amphitheater, and a park.

The upcoming "Bethlehem-2000 Celebrations", sponsored by the World Bank, are expected to attract millions of visitors to the Territories. The Solomon Pools project will serve as a major attraction. The local economy will benefit from the project in several ways. It will create hundreds of jobs and will procure goods and services locally, providing downstream benefits for the economy. The project is expected to generate significant tax revenues and foreign exchange income.

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