The purpose of MIGA is to encourage the flow of investments for productive purposes. As well as providing guarantees (or insurance) covering qualified foreign direct investment, it also provides technical assistance to governments on ways to attract and retain foreign investment and disseminates information on investment opportunities. This publication shows the impact of its work based on an assessment of 52 projects.
The World Bank Group (WBG) has the potential to improve the contribution of extractive industries (EI) to sustainable development and poverty reduction. However, this report by the WBG's operations evaluation departments finds that although its EI projects have produced positive economic and financial results, it has not been successful in ensuring compliance to environmental and social safeguards. The paper examines the World Bank, the International Finance Corporation and Multilateral Investment Guarantee Agency, to assess their performance in moving away from a focus on economic benefits towards sustainable development, addressing the governance challenges associated with resource-rich countries, and mitigating environmental and social costs of the extractive industry.
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