Contents -- Abbreviations -- Acknowledgments -- Foreword -- Executive Summary -- Management Response -- Chairperson's Summary: Committee on Development Effectiveness (CODE) -- Definitions -- 1 World Bank Group Guarantee Instruments -- Patterns in Private Investments and the Need for Risk Mitigation -- The Nature of the Instrument -- Evolution of WBG Guarantee Instruments -- Mapping of WBG Guarantee Instruments -- Summary of Similarities and Differences -- Conclusion -- 2 Review of the WBG's Experience with Guarantees -- MIGA Guarantees -- World Bank Guarantees -- IFC Guarantees -- Conclusion -- 3 The Delivery of PRM Products across the WBG -- The Market for PRM -- WBG Political Risk-Mitigation Products -- Institutional Organization of the Delivery of PRM Products -- Overlaps, Competition, and Market Niches -- Cooperation on Projects-Efforts and Results -- Coordination Mechanisms -- Improving Delivery: Some Organizational Realignment Options -- Conclusion -- 4 Recommendations -- WBG Management -- MIGA Management -- Bank Management -- IFC Management -- Appendixes -- A: Evaluation Methodology -- B: WBG Guarantees Staff Survey -- Endnotes -- Bibliography -- Boxes -- 1.1: WBG Guarantee Products -- 2.1: GTFP: A New Product in Response to Existing Demand -- 3.1: The 2005 Proposal to Develop Synergies between the World Bank and MIGA Guarantees -- Figures -- 1.1 Structure of IBRD/IDA, IFC, and MIGA Contractual Framework -- 2.1 MIGA's Gross Exposure, by Country Risk Classification, Fiscal 1990-2007 -- 2.2 MIGA Guarantees Issued and Trends -- 2.3 Distribution of Guarantees Issued by Sector (gross exposure), Fiscal 1990-2007 -- 2.4 Distribution of Guarantees by Sector (number of contracts) Fiscal 1990-2007 -- 2.5 Reasons Given by Clients for Canceling a Guarantee, Based on Guarantee Contract Cancellations, Fiscal 2001-07.

2.6 Snapshot of the PRI Market: Total New PRI Business Volumes, Calendar Years 2001-07 -- 2.7 Comparing MIGA's Market Share with Shares of Other BU-IIC Members -- 2.8 Total World Bank Net Guarantee, by Country Risk Classification, Fiscal 1990-2007 -- 2.9 Distribution of IBRD PCGs by Region (net commitment), Fiscal 1990-2007 -- 2.10 Distribution of IBRD PCGs by Sector (net commitment), Fiscal 1990-2007 -- 2.11 Distribution of IBRD/IDA PRGs by Region (net commitment), Fiscal 1990-2007 -- 2.12 Distribution of IBRD/IDA PRGs by Sector (net commitment), Fiscal 1990-2007 -- 2.13 PPI Projects in Developing Countries by Sector (1990-2006) -- 2.14 IFC's Total Net Commitment (excluding GTFP), by Country Risk Classification, Fiscal 1990-2007 -- 2.15 Distribution of IFC Guarantees by Sector (net commitment), Fiscal 1990-2007 -- 2.16 Distribution of IFC Guarantees by Region (net commitment), Fiscal 1990-2007 -- Tables -- 1.1 WBG Guarantee Instruments -- 2.1 MIGA Pricing of Guarantees (2007) -- 2.2 PCGs Enabled Public Agencies to Access Commercial Finance at More Favorable Terms -- 2.3 Guarantee Facilities Supported by the Bank -- 2.4 IBRD/IDA Pricing of Guarantees (2008) -- 2.5 IFC's Local Currency Financing -- 3.1 The WBG's Political Risk-Mitigation Products -- 3.2 Comparisons of the Deployment of WBG Risk-Mitigation Instruments -- 3.3 Potential Synergies of Expertise across the WBG -- 3.4 Comparison of the Main Attributes of the WBG Political Risk-Mitigation Products -- 3.5 Joint Bank-IFC-MIGA Guarantee Projects -- 3.6 Comparison of WBG Pricing -- 3.7 Benefits of a More Uniform Approach to PRM Pricing -- 3.8 A Simple Comparison among Organizational Options.

Foreign direct investment and private capital flows are highly concentrated geographically, with almost half of them reaching the top five destinations. These flows tend to evade many high-risk countries, with the exception of those directed to extractive industries. Regulatory and contractual risks, particularly in infrastructure, have inhibited investments in many parts of the developing world. A core objective of the World Bank Group (WBG) has been to support the flow of private investment for development; guarantees and insurance have been among the instruments that the Group has used to pursue this objective.This evaluation assesses the effectiveness in the use of guarantee and insurance products by the WBG. It finds that these instruments have effectively advanced WBG strategic objectives, in particular facilitating the flow of private investment to high-risk sectors and countries. The diverse range of these instruments has helped to meet the demand for risk mitigation under a variety of circumstances. The Multilateral Investment Guarantee Agency, (MIGA), a relatively small institution of 100 staff, has issued 17 billion in guarantees and meets a gap in the provision of political risk insurance that private providers are unable to meet. The World Bank's partial risk guarantee has supported large and complex public-private partnership infrastructure projects in high-risk countries. Its partial credit guarantees have introduced countries to commercial markets or reintroduced them following a crisis. The International Finance Corporation's (IFC) guarantee instruments have led its entry in the market for local currency finance and have helped improve access to finance for underserved market segments.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2018. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.