MIGA Executive Vice President to visit Kazakhstan
The Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA), Izumi Kobayashi, providing guarantees against political risks of the World Bank Group will visit Kazakhstan, Uzbekistan and Georgia in the end of August, 2009, the agency reports citing MIGA.
Washington. August 21. Kazakhstan Today - The Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA), Izumi Kobayashi, providing guarantees against political risks of the World Bank Group will visit Kazakhstan, Uzbekistan and Georgia in the end of August, 2009, the agency reports citing MIGA.
According to the press service, the visit of Izumi Kobayashi will begin on August 25 and will come to an end on September 1. In all three countries, the Executive Vice President will hold the meetings with the representatives of the governments and the private sector to study the investment potential of three countries and to plan the ways MIGA can support direct foreign investments for the projects in these countries.
According to World Bank, direct foreign investments into developing countries will be reduced by 30 % in 2009 approximately down to $385 billion in comparison with $583 billion in 2008 and $520 billion in 2007. "MIGA can operate as stabilizing factor of the market. The agency can help to lower to investors risks during these hard times and to play an important role in attraction of direct foreign investments," MIGA Executive Vice President considers.
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