2001年-世界发展银行全球_Annual_Report_2001_141页_18mb

MIGA Annual Report 2001 Summary

Core Content

The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, focuses on promoting foreign direct investment (FDI) into emerging economies to improve people's lives and reduce poverty. In fiscal year 2001, MIGA continued to expand its services and initiatives, emphasizing strategic areas such as Africa, IDA-eligible countries, South-South investments, SMEs, and complex infrastructure projects.

Main Points and Key Information

Membership and Coverage

• MIGA has 154 member countries, categorized into:
  • Category One (Industrial): 22 countries
  • Category Two (Developing): 132 countries
• New members in FY01: Central African Republic and Thailand
• Priority areas covered:
  • 18 projects in IDA-eligible countries
  • 8 projects in Africa
  • 18 investments in SMEs
  • 8 "South-South" investments (among developing countries)

Guarantee Activities

• Guarantees issued: 66
• Projects supported: 46
• Gross exposure: US$5.2 billion
• Net exposure: US$3.2 billion
• Estimated FDI facilitated: US$5.2 billion
• Total FDI facilitated since inception: US$41.2 billion
• Key milestones:
  • First coverage for projects in Jordan, Panama, and Togo
  • First coverage of a capital markets issue, water project, and performance bond
  • First simultaneous use of the Cooperative Underwriting Program (CUP) and facultative reinsurance
  • 500th guarantee issued (for a project in Moldova)
  • Four MIGA-supported projects received awards from major publications

Financial Highlights

• Amount issued in FY01: US$2.0 billion
• Estimated FDI facilitated in FY01: US$5.2 billion
• Total amount issued since FY90: US$9.145 billion
• Total FDI facilitated since inception: US$41.2 billion
• MIGA's earned premium, fee, and investment income: Excluded other income

Technical Assistance and Services

• Technical assistance projects: 59
• IDA-eligible countries: Represented over 50% of the work program
• New tools and services:
  • Investment Promotion Toolkit launched, becoming the top-selling publication of the World Bank Group
  • PrivatizationLink Web site relaunched with over 700 asset profiles
  • FDI Xchange and IPAworks introduced for online investment promotion
• Long-term capacity building: Focused on 28 countries, especially those in need of attracting more FDI

Partnerships and Collaborations

• Cooperation agreements: 7 with national investment insurers and international financial institutions
• Training programs: 2 for partners
• CUP partners: 13 private insurers (5 new in FY01)
• Facultative reinsurance partners: 4 new in FY01
• Capacity mobilized through CUP: US$153 million
• Capacity mobilized through facultative reinsurance: US$602 million
• Treaty reinsurance partners: ACE and XL insurance companies

Claims and Risk Management

• First claim paid: At the end of FY00 for a power project in Indonesia
• Repayment started: In FY01 by the Indonesian government
• Legal services: Continued to provide investment dispute mediation to non-guarantee holders
• Claims resolved: 6 since inception; currently working on over 70 claims in Ethiopia

Strategic Initiatives

• New Europe-Africa office launched in Paris
• Annual Africa Mining Investment Symposium held in Burkina Faso for the first time in Sub-Saharan Africa
• Operations Evaluation Unit established to assess the effects of MIGA activities
• Control Self-Assessment workshops conducted with 90% staff participation
• Recommendations on internal controls: Unanimously endorsed and being implemented

General Capital Increase

• Total subscribed capital: US$330 million from 51 member countries
• Target: US$850 million increase
• Subscription period ends: March 29, 2002

Conclusion

MIGA continued to play a pivotal role in promoting FDI into developing countries, especially in priority areas, by introducing new products, expanding its partnerships, and enhancing its technical assistance and online investment promotion services. The agency's commitment to reducing poverty and supporting sustainable development is reflected in its record-breaking guarantee issuance and the successful resolution of its first claim. As it enters the final year of its capital increase subscription period, MIGA remains focused on innovation and effectiveness in its services to better serve its clients and fulfill its mission.