Convention Establishing the Multilateral Investment Guarantee Agency

General Detail

General Information

  1. Type: Convention
  2. Date of signature:
  3. Place of signature: Seoul, South Korea
  4. Depositary:
  5. Date of entry into force: 12/04/1988

Category

Investments

Sub category

Investment guaranty

Groups

OPENESS TO MTRSWB

What is it about?

This Convention establishes the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group. The objective of this institution is to promote foreign direct investment into emerging economies, as well as to stimulate their development. MIGA offers investors guarantees against probable risks, permitting long-term predictability and reducing their hesitation to invest in certain countries. MIGA offers political risk insurance (guarantees) to investors and lenders and helps developing countries to attract and retain private investment. The insurance also covers the risks of currency transfer, expropriation, breach of contract, war, and civil disruption. MIGA also offers member States assistance to improve their regulations and administrative practices to attract and retain investment.

Why is it relevant?

Participation in MIGA offers two principle advantages: - It permits countries that export capital to expand their activities abroad as new markets open and the risk of investment in certain countries decreases. - These kinds of guarantees allow developing countries to attract foreign capital.

Additional Information

Member States to the World Bank may become a member of MIGA. All member States have to pay a minimum emolument to the Agency, equivalent to some 5,500,000 USD. Parties to a “contract of guarantee”, concluded between an investor and the Multilateral Investment Guarantee Agency, agree upon the submission for arbitration of a dispute in relation to such contract under the Rules of Arbitration for Disputes. It also offers the use of its good offices for the settlement of disputes. For the fiscal year 2003, MIGA guaranteed 37 projects, for a total of 1.4 billion dollars. Projects included the construction of airports, electric grids, telecommunication networks, tourist complexes and others.

  • Articles of Agreement of the International Bank for Reconstruction and Development and the International Monetary Fund (Washington, 22 July 1944)
  • IBRD Articles of Agreement of the International Monetary Fund (Washington, 22 July 1944)

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Country ratifications
CountryRatification date
Afghanistan-
Albania-
Algeria-
Angola-
Antigua and Barbuda-
Argentina-
Armenia-
Australia-
Austria-
Azerbaijan-
Bahamas-
Bahrain-
Bangladesh-
Barbados-
Belarus-
Belgium-
Belize-
Benin-
Bhutan-
Bolivia (Plurinational State of)-
Bosnia and Herzegovina-
Botswana-
Brazil-
Bulgaria-
Burkina Faso-
Burundi-
Cambodia-
Cameroon-
Canada-
Cape Verde-
Central African Republic-
Chad-
Chile-
China-
Colombia-
Comoros-
Congo-
Costa Rica-
Cote d'Ivoire-
Croatia-
Cyprus-
Czech Republic-
Democratic Republic of the Congo-
Denmark-
Djibouti-
Dominica-
Dominican Republic-
Ecuador-
Egypt-
El Salvador-
Equatorial Guinea-
Eritrea-
Estonia-
Ethiopia-
Fiji-
Finland-
France-
Gabon-
Gambia-
Georgia-
Germany-
Ghana-
Greece-
Grenada-
Guatemala-
Guinea-
Guinea-Bissau-
Guyana-
Haiti-
Honduras-
Hungary-
Iceland-
India-
Indonesia-
Iran-
Iraq-
Ireland-
Israel-
Italy-
Jamaica-
Japan-
Jordan-
Kazakhstan-
Kenya-
Kuwait-
Kyrgyzstan-
Lao People's Democratic Republic-
Latvia-
Lebanon-
Lesotho-
Liberia-
Libyan Arab Jamahiriya-
Lithuania-
Luxembourg-
Macedonia (The former Yugoslav Republic of)-
Madagascar-
Malawi-
Malaysia-
Maldives-
Mali-
Malta-
Mauritania-
Mauritius-
Mexico-
Micronesia (Federated States of)-
Moldova-
Mongolia-
Montenegro-
Morocco-
Mozambique-
Myanmar-
Namibia-
Nepal-
Netherlands-
New Zealand-
Nicaragua-
Niger-
Nigeria-
Norway-
Oman-
Pakistan-
Palau-
Panama-
Papua New Guinea-
Paraguay-
Peru-
Philippines-
Poland-
Portugal-
Qatar-
Republic of Korea-
Romania-
Russian Federation-
Rwanda-
Saint Kitts and Nevis-
Saint Lucia-
Saint Vincent and the Grenadines-
Samoa-
Sao Tome and Principe-
Saudi Arabia-
Senegal-
Serbia-
Seychelles-
Sierra Leone-
Singapore-
Slovakia-
Slovenia-
Solomon Islands-
South Africa-
South Sudan-
Spain-
Sri Lanka-
Sudan-
Suriname-
Swaziland-
Sweden-
Switzerland-
Syrian Arab Republic-
Tajikistan-
Thailand-
Timor-Leste-
Togo-
Trinidad and Tobago-
Tunisia-
Turkey-
Turkmenistan-
Uganda-
Ukraine-
United Arab Emirates-
United Kingdom-
United Republic of Tanzania-
United States of America-
Uruguay-
Uzbekistan-
Vanuatu-
Venezuela-
Viet Nam-
Yemen-
Zambia-
Zimbabwe-
Treaties analysis
YearRatifications
19868
198716
198827
198911
199014
199118
199227
199315
19944
19952
19968
19973
19982
19993
20002
20023
20034
20071
20082
20091
20151
201611
Total183
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