Niger is new MIGA member

African country Niger has joined the Multilateral Investment Guarantee Agency (MIGA) as a new member, the agency announced May 14, 2012.

According to the political risk insurance arm of the World Bank Group, Niger has fulfilled all of its membership requirements. Niger becomes MIGA’s 177th member country.

Niger’s membership, MIGA says means that direct foreign investment into the country is eligible for the agency’s political risk insurance.

Investors from Niger going into other developing countries may also receive coverage for their investments from MIGA, it added.

“We extend a warm welcome to Niger,” said Izumi Kobayashi, MIGA’s Executive Vice President.

Kobayashi hoped that MIGA’s support will promote productive and sustainable foreign direct investment into the country to benefit the people of Niger.

By Ekow Quandzie