Multinational Investments Guaranteeing Agency (MIGA) is a unit of the World Bank Group. The agency insures the risks arising on large-scale investment projects thereby stimulating the inflow of direct foreign investments to the developing country-members of MIGA. Belarus has been a MIGA Member since 1992.
The structures when MIGA provides a guarantee to RZB-financed projects are standard in RZB practice. In 2003-2004 MIGA provided the guarantees to RZB projects in Bosnia, Romania, Serbia and Montenegro, Russia and Ukraine. On March 21, 2005, RZB and Priorbank entered into a Loan Agreement of 30 million USD under a MIGA guarantee.
Co-operation with MIGA is of benefit to Belarus because, on one side, the country receives the funding necessary for financing of major Belarusian enterprises and, from another side, it does not affect the valuable interests of the country.