The ICSID Convention came into force through a multilateral agreement and came into force on 14 October 1966. Each organization of the World Bank Group operates according to procedures established by its contractual provisions or by an equivalent government document. These documents describe the terms of membership and the general principles of organization, management and operations. MIGA offers insurance covering five types of non-commercial risks: currency irreversibility and transfer limits; government expropriation; war, terrorism and civil unrest; Offences and non-compliance with financial obligations.    MIGA covers investments such as equity, loans, shareholder loans and guarantees on shareholder loans. The Agency can also provide investments such as management contracts, asset securitization, bonds, leasing activities, franchise agreements and licensing agreements.   The Agency generally provides insurance coverage of up to 15 years, with a five-year extension, depending on the nature and circumstances of a project.  In the event of an insurance-protected event, MIGA may exercise the investor`s rights to the host country through the subdition in order to recover the costs associated with the coverage of the debt. However, the Agency`s convention does not require member governments to treat foreign investment in a particular way.  As a multilateral institution, MIGA is also able to resolve potential disputes before they even become insurance rights.  The Multilateral Investment Guarantee Agency (MIGA) is an international financial institution that provides risk-averse policy assurances and enhancement guarantees. These guarantees help investors protect foreign direct investment from political and non-commercial risks in developing countries.  Miga is a member of the World Bank Group and is headquartered in Washington, D.C.
in the United States. In 2000, MIGA paid its first insurance fee since the Agency`s inception. In 1997, MIGA awarded the foundation contract as part of its cooperation programme for an energy project in Indonesia. In collaboration with the European Union Investment Trust Fund for Bosnia and Herzegovina, the Agency has established a $12 million investment guarantee fund (US$17 million in 2012). The Agency also created the $20 million trust fund for investment guarantees in the West Bank and Gaza ($29 million in 2012). . MIGA`s annual reports provide an overview of the Agency`s activities. The MIGA convention was reviewed by the Bank`s executive directors on the basis of draft agreements drawn up by the Bank`s officers. The convention came into force on April 12, 1988.
Miga`s first investment guarantees, headquartered at 1818 H Street, NW Washington, DC 20433 USA (202) 473-1000 MIGA, were issued in 1990 to cover $1.04 billion in foreign direct investment (US$1.83 billion in 2012).