Part V The International Law of Foreign Investment, XXXVI Multilateral Investment Guarantee Agency
- Investment — Investor — International monetary law — International trade
This chapter details the functions of the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group. The MIGA was established to encourage foreign investment in developing member countries by providing insurance for foreign investments against non-commercial risks. Its objective is ‘to encourage the flow of investments for productive purposes among member countries, and in particular to developing member countries’. The MIGA offers insurance against the risk of breach of contract by the host Government under the terms stipulated in the MIGA Convention. Eligible investors are nationals of a Member State other than the host country and juridical persons which are incorporated and have their principal place of business in a Member State or are under the other requirements set forth in the Convention. In addition, investments shall only be guaranteed if they are to be realized in a developing country.