Pakistan’s Financial Sector to Be Backed By MIGA

The Multilateral Investment Guarantee Agency (MIGA), part of the The World Bank Group, restated its intent to support Pakistan’s financial institutions and capital #markets, in a meeting between Finance Minister Muhammad Aurangzeb and a MIGA delegation, led by Senior Investment Guarantee Officer Dilawar Bajauri and Senior Underwriter Jae Hyung Kwon.

For context, MIGA, established in 1988, specializes in political risk #insurance and #credit enhancement guarantees—essentially, helping investors protect their money from unpredictable, non-commercial risks when putting capital into developing countries.

The delegation emphasized Pakistan’s economic potential, particularly pointing out that the country was their first stop in #Asia. They also highlighted their short-term credit guarantees, designed to work alongside the IFC – International Finance Corporation in backing private sector growth.

On Pakistan’s end, Aurangzeb assured MIGA of the government’s dedication to facilitating an investment-friendly environment, welcoming continued collaboration. The two sides agreed to stay closely coordinated moving forward.