The Multilateral Investment Guarantee Agency ( MIGA ) is an international financial institution which offers political risk insurance and credit enhancement guarantees. These guarantees help investors protect foreign direct investments against political and non-commercial risks in developing countries. MIGA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States. MIGA was established in 1988 as an investment insurance facility to encourage confident investment in developing countries. MIGA is owned and governed by its member states, but has its own executive leadership and staff which carry out its daily operations. Its shareholders are member governments that provide paid-in capital and have the right to vote on its matters. It insures long-term debt and equity investments as well as other assets and contracts with long-term periods. The agency is assessed by the World Bank's Independent Evaluation Group each year.
MIGA offers insurance to cover five types of non-commercial risks: currency inconvertibility and transfer restriction; government expropriation; war, terrorism, and civil disturbance; breaches of contract; and the non-honoring of financial obligations. MIGA will cover investments such as equity, loans, shareholder loans, and shareholder loan guarantees. The agency may also insure investments such as management contracts, asset securitization, bonds, leasing activities, franchise agreements, and license agreements. The agency generally offers insurance coverage lasting up to 15 years with a possible five-year extension depending on a given project's nature and circumstances. When an event occurs that is protected by the insurance, MIGA can exercise the investor's rights against the host country through subrogation to recover expenses associated with covering the claim. However, the agency's convention does not require member governments to treat foreign investments in any sp...
India Republic Day -- This year's grand celebration will not be the same as it is for the first time that it will be held amongst the ongoing coronavirus pandemic, which contains claimed many lives across the nation. India is celebrating it is 72nd Republic Day in Tuesday, but this year's grand parade will not be the same as it is for the first time that it will possibly be held amid the ongoing coronavirus pandemic, which has claimed quite a few lives across the country. Burj Khalifa Lights up With Tricolour to Celebrate India's 72nd Republic Morning After more than 5 decades, often the country's 72nd R-Day celebration will have no chief guests. British Prime Minister Boris Johnson was due to wear New Delhi as the chief guest at the annual celebration to mark the Republic Day but he had to help call off the visit to give attention to the domestic crisis free by the emergence of a brand-new, deadlier variant of coronavir us in the UK at the end of last year. Aside fro...
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