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MIGA: Facilitating Investments in Conflict Affected Countries

UN House – Beirut, Lebanon Nabil Fawaz – Sector Leader for Agribusiness Manufacturing and Services November 2008. MIGA: Facilitating Investments in Conflict Affected Countries. MIGA promotes foreign direct investment by providing:.

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MIGA: Facilitating Investments in Conflict Affected Countries

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  1. UN House – Beirut, Lebanon Nabil Fawaz – Sector Leader for Agribusiness Manufacturing and Services November 2008 MIGA: Facilitating Investments in Conflict Affected Countries

  2. MIGA promotes foreign direct investment by providing: • Non-commercial risk insurance (guarantees) for investors and lenders • Dispute mediation services, to remove obstacles to current and future investment • Online information on investment opportunities and operating conditions in developing countries

  3. MIGA’s insurance coverage • Currency Transfer Restriction and Inconvertibility • Expropriation • Breach of Contract • War and Civil Disturbance • Protects against losses arising from: • Damage/disappearance of tangible assets (including revolution, insurrection, coups d'état, sabotage, and terrorism) • Prolonged business interruption • Acts must have a primary intent of achieving a political objective • Temporary business interruption (proposed change to MIGA’s Operational Regulations)

  4. Portfolio of projects in conflict affected countries In FY2007-08, MIGA supported 14 projects with guarantees totaling $401.1 million This represents 30% of total projects and 12% of guarantees issued Countries include: Afghanistan (5) Bosnia Herzegovina Central African Republic Congo – DRC (2) Guinea Guinea-Bissau (2) Uganda (2) Since its inception, MIGA has supported 159 projects in 24 conflict affected countries with guarantees totaling $2.9 billion 4

  5. MIGA’s trust funds in Conflict Affected Countries • West Bank and GazaTrust Fund ($30 million) • Afghanistan Investment Guarantee Facility ($12 million with up to $2 million 1st Loss Position) • Bosnia-Herzegovina Trust Fund ($12 million)

  6. Proposed New Facility for Conflict Affected Countries Capacity: $150-$250 million donor trust fund complemented by additional capacity provided by MIGA and other public and/or private insurers Envisaged Features: 1st loss position (up to 50% of insured amount). Local investments Stand-alone debt Existing investments (up to 50% of new investments) 6

  7. For more information:Nabil Fawaznfawaz@worldbank.orgwww.miga.org

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