Michel Wormser, Vice President and Chief Operating Officer of the Multilateral Investment Guarantee Agency (MIGA)—the political risk insurance and credit enhancement arm of the World Bank Group—is visiting Nigeria from March 31st to April 2nd.
The aim of Wormser’s trip is to identify areas where MIGA can help the country mobilize capital for important infrastructure projects and other job-creating enterprises to meet its development goals. During his visit, Wormser will meet with government ministries, banks, and enterprises.
Wormser’s meetings with government officials will focus on Nigeria’s infrastructure needs, especially in the area of energy and and ports. He will also meet with companies to discuss how MIGA can increase its support to Nigerian firms as they expand their outward investment into emerging markets.
MIGA provides political risk insurance and credit enhancement products that can help mobilize private investment into projects with high development impact.
“Nigeria needs significant investment in its own economy to create jobs and increase competitiveness, especially in infrastructure. MIGA can play an important role in attracting a strong pool of investors and lenders to this market,” says Wormser.
“At the same time, Nigeria is playing a prominent role as an investor in other countries in sub-Saharan Africa, and MIGA can help these investors increase their investments in these new markets,” he continued.
MIGA has supported many projects in Nigeria, spanning several sectors that include power, manufacturing, telecommunications, and services.
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