The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, has reaffirmed its commitment to strengthening Pakistan’s financial institutions and capital markets, signalling confidence in the country’s economic potential.
The announcement came during a meeting between Finance Minister Muhammad Aurangzeb and a MIGA delegation at the Finance Division on Friday. The delegation was led by Dilawar Bajauri, Senior Investment Guarantee Officer for Financial Institutions and Capital Markets, and Jae Kwon, Senior Underwriter and Head of South Asia Business Development.
MIGA, which specialises in providing political risk insurance and credit enhancement guarantees, aims to facilitate foreign direct investment (FDI) in developing economies. The agency’s guarantees help safeguard investors against political and non-commercial risks, ensuring greater investment security in Pakistan.
During the meeting, the MIGA officials emphasised their commitment to supporting Pakistan’s financial sector through short-term credit guarantees. These guarantees complement the work of the International Finance Corporation (IFC), another World Bank Group entity focused on private sector growth.
Finance Minister Aurangzeb welcomed MIGA’s support and reiterated Pakistan’s commitment to fostering a business-friendly investment climate. He expressed optimism about continued collaboration, emphasising that strengthening financial institutions and capital markets is essential for sustainable economic development.
Established in 1988, MIGA plays a crucial role in encouraging private sector investment in emerging economies. By mitigating investment risks and enhancing financial security, the agency aims to attract long-term capital flows to developing markets like Pakistan.
The meeting concluded with both sides agreeing to maintain close coordination to advance Pakistan’s economic and financial sector reforms.
