Consider the following statements regarding Multilateral Investment Guarantee Agency MIGA 1 It is an...........

Economic Affairs World Bank and IMF

Consider the following statements regarding Multilateral Investment Guarantee Agency (MIGA)?

1. It is an arm of the WTO

2. It is an arm of the World Bank group

3. It offers insurance (guarantee) to foreign private investors against loss caused by non commercial (i.e. Political) risks, such as currency transfer.

Select the correct answer using the codes given below:

1 and 3 only

2 and 3 only

1 and 2 only

Only 2

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Explanation:

The Multilateral Investment Guarantee Agency (MIGA) an arm of World Bank, was set up in 1988 to encourage foreign investment in developing countries by offering insurance (guarantee ) to foreign private investors against loss caused by non commercial (i.e. Political) risks, such as currency transfer, expropriation, war and civil disturbances.