| Summary: | In 2014, the World Bank
Group adopted a joint
strategy for dealing
with impediments
to ending extreme
poverty and boosting
shared prosperity. One
of the strategy’s key
elements underscores
the essential role
private sector
investment can play
working alongside
public sector support to bear down on the most challenging
development issues client countries face, such as job creation,
infrastructure deficits, and climate change.
MIGA’s role has become increasingly valuable in delivering
results to achieve these twin goals as demonstrated by the
increased demand for our political risk insurance and credit
enhancement products that facilitate the expansion of private
investment into emerging markets. In fiscal year 2014, MIGA
issued a record $3.2 billion in new guarantees while our
gross exposure reached $12.4 billion. MIGA’s added value
stems from our ability to mobilize private sector investment
in environments that are often beyond the risk tolerance of
commercial sources of capital.
This past fiscal year, MIGA worked with various stakeholders
to develop our own strategy that aligns our objectives with the
World Bank Group’s twin goals and underscores our aspiration
to achieve significant development impact beyond what we
can do alone. To achieve this, MIGA will need to be financially
sustainable by prudently managing our risks, covering
operating costs, and creating financial latitude by growing the
Agency’s capital base.
|
|---|