multilateral investment guaranty agency (MIGA)
Definition
Division of the World Bank Group, it was established in 1988 to encourage foreign private direct investment in developing countries. MIGA provides investment guaranties, and insurance to cover non-commercial risks (such as imposition of foreign exchange restrictions, outbreak of conflicts or wars, and appropriation of assets). It also advises governments on the design and implementation of foreign investment policies and procedures, and facilitates management and service contract, franchising and licensing arrangements, and transfer of technology and know how.
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