MIGA: – Multilateral Investment Guarantee Agency
The Multilateral Investment Guarantee Agency or MIGA is an international financial institution that provides insurance for political risk as well as guarantees of credit enhancement. The guarantees of credit enhancement enable financial specialists to ensure foreign direct investments against political and risks which are non-commercial in developing countries. Multilateral Investment Guarantee Agency is one of the members of the World Bank Group and headquarter of MIGA is situated in Washington, D.C. in the United States. MIGA was set up in 1988 as an investment insurance facility which helps to empower certain investment in developing countries. MIGA is claimed and administered by its member states, still, it has its very own official authority and staff which do its day by day activities. Its investors are a member of governments which give paid-in capital and have the privilege to cast a ballot on its issues.