ABSTRACT
The convention establishing Multilateral Investment Guarantee Agency (MIGA) took effect in April 1988. Before guaranteeing any investment, MIGA must ensure that it is commercially viable, contributes to the development process and is not harmful to the environment. The MIGA/international finance corporation office of the compliance advisor/ombudsman considers the concerns of local communities directly affected by MIGA- or IFC-sponsored projects. MIGA works to deter and resolve disputes that might disrupt investments that it has insured, thereby enhancing the safety of investments and also boosting investor confidence. MIGA works with local insurers, export credit agencies, development finance institutions and other organizations to support capacity building within the insurance industry and to ensure a level of consistency among insurers. In 2007 MIGA’s technical assistance services were amalgamated into the foreign advisory investment service, of which MIGA became a lead partner, along with IFC and the world bank.
