Multilateral Investment Guarantee Agency (MIGA)

The International Bank for Reconstruction and Development or the World Bank wanted to promote foreign direct investment flows specially to developing countries. The MIGA was therefore established by the,World Bank in 1988 with a specialized mandate to: 

(a) encourage equity investment and other direct investment flows to developing countries through the  mitigation of non-commercial risks; 

(b) advice developing member governments on the design, implementation of policies, programmes and procedures to related foreign investments; and 

(c) sponsor a dialogue between the international business community and host government on investment issues. 

One hundred thirty four countries have become members of MIGA by 1996. Twenty are developing countries and countries in transition have applied for membership. India had ratified MIGA in 1995.