Multilateral Investment Guarantee Agency (MIGA)

Funding background

The MIGA Guarantee Facility (MGF) falls under the Private Sector Window and expands coverage through shared first-loss and risk participation via MIGA reinsurance. The MGF aims to bridge the gaps where market and MIGA-arranged capacity for eligible non-commercial risks is not sufficient or available to crowd in private investment into IDA PSW-eligible countries.

Eligibility

Eligible countries and sub-national regions: https://thedocs.worldbank.org/en/doc/5c869241cd7811453a97fff2e3090721-0410012023/original/PSW-eligible-countries-FY24-October-2023.pdf

Financing

MGF is deployed in two structures: (i) shared first-loss, and (ii) risk participation akin to reinsurance. The MGF has an overall designated limit of up to $500 million, with this limit being the total exposure of IDA PSW under both structures. Claim amounts are disbursed by IDA using MGF resources (through a risk sharing agreement with MIGA) to MIGA, upon a call on the guarantee by the beneficiary pursuant to a claim determination as per the MIGA contract.

Applying

Not specified.