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Financial Times, MIGA Launch 3rd Africa Sustainable Futures Awards
MIGA to Present Gender Leadership Award to ProCredit’s Katarina Zdraljevic
MIGA Guarantee Helps Expand Clean Energy Access in Remote Mozambique
MIGA Boosts Bank Lending in Ghana and Zambia
LONDON, February 24, 2026—The Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform, has issued two guarantees to unlock hundreds of millions of dollars in new lending in Ghana and Zambia.
Both three-year guarantees cover the risk of expropriation of reserves held by Standard Chartered’s subsidiaries at the countries’ central banks. Reducing the risk-weights of the central bank reserves will generate headroom for additional lending, principally for trade finance and corporate finance.
The guarantee for Ghana is $70 million, which will free up to $307.6 million in new loans. For Zambia, a $38 million guarantee will free up to $109.6 million in additional lending.
At a ceremony today in London to mark the signings, Ariane Di lorio, Director and Global Head of the Financial Institutions Group at MIGA, said, "MIGA’s guarantees to Standard Chartered will significantly expand access to finance in Ghana and Zambia. The additional lending they create will support bank resilience during a time of still-challenging market conditions in the two countries and enable greater private sector participation in growth.”
The two guarantees come at a time when both Ghana and Zambia continue to recover from macroeconomic crises and sovereign debt restructurings.
Faruq Muhammad, Global Head, Development & Agency Finance, Standard Chartered, said: “Through the use of credit insurance structures, we’re able to unlock new lending capacity across Ghana and Zambia – this approach allows us to redeploy capital efficiently into high-impact projects, supporting local business growth without the need for additional capital outlay. This helps us drive long-term value creation for the communities we serve.”
About Standard Chartered
We are a leading international banking group, with a presence in 54 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.
For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.
About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
Stay updated and follow us at https://x.com/MIGA and https://www.linkedin.com/company/wb-miga
Contact: In Washington: Elizabeth Howton, ehowton [at] worldbankgroup.org
MIGA Guarantee to First Abu Dhabi Bank Will Support Increased Lending to Medium and Small Firms in Egypt
WASHINGTON, February 18, 2026—The Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform, has issued a guarantee to unlock hundreds of millions of dollars in new lending to small businesses, including women-led businesses, and climate-finance related projects in Egypt.
The three-year, $550 million guarantee issued to First Abu Dhabi Bank (FAB) will cover the risk of expropriation of reserves held by the bank’s subsidiary at the Central Bank of Egypt and increase the bank's lending capacity by reducing the risk-weight assigned to its reserves at the central bank from 100 percent to zero percent. That will enable First Abu Dhabi Bank to make up to $550 million in new loans for climate finance projects and lending to micro, small, and medium enterprises (MSMEs), including those led by women.
“This guarantee and our partnership with First Abu Dhabi Bank underscore our dedication to advancing sustainable economic development and resilience in the Middle East and North Africa region,” said Tsutomu Yamamoto, MIGA Managing Director. “By facilitating access to finance and promoting inclusive growth, this guarantee helps to set the stage for additional economic growth in Egypt and the broader region."
While Egypt’s economy has stabilized in recent years, the nation continues to face vulnerability to shocks and persistent cost pressures. Small enterprises continue to struggle to access finance, with the MSME financing gap at 19.8 percent of GDP in 2025. MIGA’s guarantee will support and strengthen a growing private bank in a financial sector dominated by state-owned banks.
The project represents MIGA’s second capital optimization project in Egypt and highlights MIGA’s strategic focus on expanding the scope of its capital optimization guarantees to Middle East and North Africa regional banks as they expand their footprint across the region and scale up their operations.
About First Abu Dhabi Bank
Headquartered in Abu Dhabi with a global footprint beyond 20 markets, FAB is the finance and trade gateway to the Middle East and North Africa region. With total assets of AED 1.40 trillion ($382 billion) as of December 2025, FAB is among the world’s largest banking groups. The bank provides financial expertise to its wholesale and retail client franchise across three business units: Investment Banking & Markets, Wholesale Banking, and Personal, Business, Wealth & Privileged Client Banking Group.
About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
Stay updated and follow us at https://x.com/MIGA and https://www.linkedin.com/company/wb-miga
Contact: In Washington: Elizabeth Howton, ehowton [at] worldbankgroup.org
MIGA Supports Next Phase of Rooftop Solar Systems in India
MIGA and CAF to Drive Strategic Investments in Latin America and the Caribbean
WASHINGTON, Feb. 5, 2026—The Development Bank of Latin America and the Caribbean (CAF) and the Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform, have signed an agreement to mobilize private capital, manage risks, and promote sustainable development in the countries of Latin America and the Caribbean.
The agreement, signed at MIGA's offices in Washington, D.C., seals the commitment of both multilateral institutions to work together to expand financing for impactful projects in the region, particularly in critical areas such as infrastructure, financial inclusion, urban development, and climate action.
The institutions will work to ensure that World Bank Group guarantee products support risk management initiatives within CAF's loan portfolio, thereby freeing up capital to finance additional operations. Collaboration will focus on three main areas: credit risk management through portfolio or individual guarantees issued by MIGA; capital mobilization through joint participation in the issuance of financial products; and strategic collaboration to foster cooperative efforts in other areas of mutual interest.
This joint approach will enable both institutions to enhance the scope and effectiveness of their operations, strengthening the confidence of investors and creditors, and contributing to sustainable development and regional integration in CAF's shareholder countries.
“MIGA’s agreement with CAF demonstrates our continued commitment to supporting sustainable development in Latin America and the Caribbean,” said Tsutomu Yamamoto, MIGA Managing Director. “We look forward to working with CAF to promote growth and job creation in the region.”
"The signing of this agreement reflects a mutual commitment to work on operations in the region to mobilize resources and support the viability of projects that help countries achieve the Sustainable Development Goals," said Sergio Díaz-Granados, Executive President of CAF.
The relationship between CAF and MIGA dates to 2020, with initial discussions to collaborate on mitigating the economic impact of the pandemic. After a process that included the signing of confidentiality agreements and numerous technical exchanges during 2025 on legal, risk, environmental, and financial aspects, the parties have solidified a strong foundation for this formal alliance.
Tangible Examples and Scope
MIGA has a proven track record in the region, with operations ranging from a $1.2 billion guarantee in Brazil to support smallholder farmers to a $11.7 million guarantee to modernize St. Lucia’s streetlight network, and most recently a $229 million guarantee in Barranquilla, Colombia for social infrastructure and urban sustainability.
The new collaboration framework with CAF will allow for the replication and expansion of the impact of such operations, exploring mechanisms such as joint guarantee operations, co-mobilization of resources, business development, and joint events. A priority area identified is support for subnational projects (municipalities, departments, and cities) and solid public companies, sectors where access to guarantees can be critical.
The agreement, which has an initial term of three years and can be renewed by mutual consent, reinforces the shared mission of both institutions to catalyze investments that generate inclusive economic growth, reduce poverty, and improve people's quality of life. By combining their strengths, CAF and MIGA are positioned to act as a powerful catalyst to close the development financing gap in Latin America and the Caribbean, attracting private capital toward projects that are essential for a more sustainable and resilient future.
About CAF
CAF is a development bank committed to the Latin America and Caribbean region. It aims to become the green and blue bank and the bank for sustainable and inclusive growth in its shareholder countries.
About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
Stay updated and follow us at https://x.com/MIGA and https://www.linkedin.com/company/wb-miga
Contact: In Washington: Elizabeth Howton, ehowton [at] worldbankgroup.org (ehowton[at]worldbankgroup[dot]org)
MIGA Expands Support for Bank Lending in Ukraine
WASHINGTON, Feb. 04, 2026—The Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform, has extended and increased guarantees to free up capital linked to two banks’ mandatory reserves, enabling them to expand their operations in Ukraine and maintain continuity amid the ongoing war.
The guarantees cover reserves held at the Central Bank of Ukraine against the risk of expropriation. The guarantee to ProCredit Bank Ukraine, part of ProCredit group based in Germany, increases MIGA’s coverage of the reserves from €41 million to €80 million and extends a prior guarantee for one year and one day.
MIGA also issued a new guarantee to Raiffeisen Bank International of Austria, increasing MIGA’s coverage of the reserves from €100 million to €150 million and extending a prior guarantee for one year and one day.
The guarantee to ProCredit is expected to facilitate up to €171 million of working capital loans to small businesses in critical sectors such as agriculture, industry, and production. The guarantee issued to Raiffeisen is expected to generate up to €225 million in new loans supporting clients in critical sectors such as agriculture, food, and health care.
“By extending and increasing these two guarantees, MIGA reaffirms its strong commitment to supporting the Ukraine banking sector, " said Tsutomu Yamamoto, MIGA Managing Director. “This will strengthen resilience and confidence in the country’s financial system, which works as a conduit to the real sector to promote growth and job creation.”
Russia’s invasion of Ukraine continues to severely impact Ukraine’s economy. Despite their vital role in delivering essential goods, services, and supporting reconstruction, businesses in the country face borrowing constraints. The MIGA guarantee extensions are designed to alleviate such constraints.
MIGA has been supporting Ukraine’s economy with capital optimization guarantees since 2015 and stepped up its support in 2022 after the invasion, which caused a severe GDP contraction of nearly 29 percent.
“The expanded guarantee not only reaffirms international support but also provides a clear operational benefit,” said Hubert Spechtenhauser, Chair of the Management Board of ProCredit Holding AG. “By lowering the risk weight of the mandatory reserve at the National Bank of Ukraine, it releases capital that can be deployed for client-related activities. This strengthens our capacity to serve our clients now and to support the country’s longer-term reconstruction.”
“Increasing MIGA’s guarantee limit to €150 million strengthens the bank’s ability to support Ukrainian businesses during the war by enabling more loans to critical sectors,” said Natalia Gurina, Chairman of the Board of Raiffeisen Bank Ukraine. “This expanded guarantee also helps optimize capital and risk management, ensuring a steady flow of credit when Ukraine’s economy urgently needs support.”
About Raiffeisen Bank
Raiffeisen Bank, Ukraine, is the largest privately owned bank in Ukraine and the fourth largest by total assets. MIGA has cooperated successfully with the Bank since 2022.
About ProCredit Holding AG
ProCredit Holding AG, based in Frankfurt am Main, Germany, is the parent company of the development-oriented ProCredit group, which consists of commercial banks for micro, small, and medium enterprises as well as private individuals, fostering economic, ecological, and social development. In addition to its operational focus on Southeastern and Eastern Europe, the ProCredit group is also active in South America and Germany. The company’s shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. The main shareholders of ProCredit Holding AG include Zeitinger Invest GmbH, KfW, the Dutch DOEN Participaties BV, the European Bank for Reconstruction and Development and ProCredit Staff Invest GmbH & Co. KG. As the group’s superordinated company according to the German Banking Act and as the parent financial holding company of the ProCredit financial holding group, ProCredit Holding AG is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank. For additional information, visit: https://www.procredit-holding.com/
About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
Stay updated and follow us at https://x.com/MIGA and https://www.linkedin.com/company/wb-miga
Contact: In Washington: Elizabeth Howton, ehowton [at] worldbankgroup.org (ehowton[at]worldbankgroup[dot]org)
Kasada Investments: Creating Hospitality Jobs for Rwanda’s Youth
At the recruitment day for Mövenpick Kigali, Kasada Investments showcases how hospitality development can translate into real jobs, skills, and long-term opportunity for young people in Rwanda.
MIGA in 2025: De-Risking Private Capital Where It Matters Most
Through $8.5 billion in guarantees, MIGA and the World Bank Group helped de-risk private capital and expand development impact across emerging markets.