Miga2012
annual report 2012
InsurIng Investments
r ensurIng opportunItIes
miga’s mission
To promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives.
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MIGA ANNUAL REPORT 2012
contents
2 4 5 10 11 12 18 MIGA Fiscal Year 2012 Highlights World Bank Group Fiscal Year 2012 Highlights Leadership Perspectives MIGA Management Team MIGA Board Development Impact Business Operational Overview Research and Knowledge Regional Activities Technical Assistance Independent Evaluation Group Compliance Advisor/Ombudsman Management’s Discussion and Analysis and Financial Statements Appendices Contact Information
58 104 118
acronyms
BRICS CAO CAR CUP DIFC FDI FIAS FMO IBRD ICSID ICT IDA IEG IFC IPP MD&A MENA MOU NHSFO PRG PRI SIP SSA Brazil, the Russian Federation, India, China, South Africa Compliance Advisor/Ombudsman Capital Adequacy Ratio Cooperative Underwriting Program Dubai International Financial Centre Foreign Direct Investment Facility for Investment Climate Advisory Services Dutch Development Bank International Bank for Reconstruction and Development International Centre for Settlement of Investment Disputes Information and Communication Technology International Development Association Independent Evaluation Group International Finance Corporation Independent Power Producer Management’s Discussion and Analysis Middle East and North Africa Memorandum of Understanding Non-Honoring of Sovereign Financial Obligations Partial Risk Guarantee Political Risk Insurance Small Investment Program Sub-Saharan Africa
MIGA ANNUAL REPORT 2012
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1
In fiscal year 2012, we issued a total of $2.7 billion in guarantees for projects in MIGA’s developing member countries and an additional $10.6 million was issued under MIGAadministered trust funds. This is another record high for new issuance by the Agency, the second consecutive year of this trend, and was marked by increased
InsurIng Investments
r ensurIng opportunItIes
miga’s mission
To promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives.
B
|
MIGA ANNUAL REPORT 2012
contents
2 4 5 10 11 12 18 MIGA Fiscal Year 2012 Highlights World Bank Group Fiscal Year 2012 Highlights Leadership Perspectives MIGA Management Team MIGA Board Development Impact Business Operational Overview Research and Knowledge Regional Activities Technical Assistance Independent Evaluation Group Compliance Advisor/Ombudsman Management’s Discussion and Analysis and Financial Statements Appendices Contact Information
58 104 118
acronyms
BRICS CAO CAR CUP DIFC FDI FIAS FMO IBRD ICSID ICT IDA IEG IFC IPP MD&A MENA MOU NHSFO PRG PRI SIP SSA Brazil, the Russian Federation, India, China, South Africa Compliance Advisor/Ombudsman Capital Adequacy Ratio Cooperative Underwriting Program Dubai International Financial Centre Foreign Direct Investment Facility for Investment Climate Advisory Services Dutch Development Bank International Bank for Reconstruction and Development International Centre for Settlement of Investment Disputes Information and Communication Technology International Development Association Independent Evaluation Group International Finance Corporation Independent Power Producer Management’s Discussion and Analysis Middle East and North Africa Memorandum of Understanding Non-Honoring of Sovereign Financial Obligations Partial Risk Guarantee Political Risk Insurance Small Investment Program Sub-Saharan Africa
MIGA ANNUAL REPORT 2012
|
1
In fiscal year 2012, we issued a total of $2.7 billion in guarantees for projects in MIGA’s developing member countries and an additional $10.6 million was issued under MIGAadministered trust funds. This is another record high for new issuance by the Agency, the second consecutive year of this trend, and was marked by increased