Iraq Membership in MIGA

Iraq completed all membership requirements and joined MIGA on October 6th, 2008 as its newest shareholder, bringing MIGA’s membership to 173.  Iraq signed MIGA’s Convention, completed the ratification process, and made its initial capital contribution to the agency in order to become a member.  MIGA can now consider applications for political risk insurance cover from eligible investors for investments into Iraq. Investors from Iraq going into other developing countries may also apply for coverage.

As its Convention dictates, MIGA carefully assesses the eligibility, risks, and expected development impact associated with any investment in any country that it considers supporting through its guarantee program.  The difficult economic and political environment in Iraq may preclude guarantee cover being provided for certain projects, but each investment proposal submitted to MIGA will be carefully considered. MIGA will also explore other ways in which it can help facilitate sound and productive investment into Iraq outside of the agency’s guarantee program.