IBRD The International Bank for Reconstruction and Development

Founded in 1945, the IBRD counts 181 members. It provides loans and development assistance to middle-income countries and creditworthy poorer countries. IBRD provides financing mainly by borrowing on capital markets and changes interest rates on loans every 6 months.

IDA The International Development Association

Established in 1960, IDA counts 160 members. The International Development Association is the World Bank΄s concessional lending arm and provides long-term interest-free loans and other services to the poorest of the developing countries. IDA is funded largely from government contributions, with additional funds from IBRD profits and repayments of earlier IDA credits.

MIGA The Multilateral Investment Guarantee Agency

Established in 1988, MIGA counts 152 members. The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into emerging economies to improve people΄s lives and reduce poverty. MIGA fulfills this mandate and contributes to development by offering political risk insurance (guarantees) to investors and lenders, and by helping developing countries attract and retain private investment (technical assistance).

For small investment projects MIGA has recently set up a specialized program called Small Investment Project (SIP). Under SIP, the three standard coverages (Expropriation, Transfer Restriction & Inconvertibility, and War & Civil Disturbance) are offered combined at a flat premium (one percent per year - with the exception of infrastructure projects which are priced at one-and-a-half percent).

For additional information your can download a short brochure on the program (Type: .pdf, Size: 288 KB), as well as the SIP Definitive Application form (Type: .doc, Size: 1,11 MB).