By Gerald T. West
Ebook via West, Gerald T., Tarazona, Ethel I.
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Additional resources for MIGA and foreign direct investment: evaluating developmental impacts
During the course of designing the program, the Agency consulted extensively with both the IBRD and the IFC to assure fundamental consonance with the World Bank Group's evaluation practices. However, there was a set of considerations that had to be addressed given the considerable difference existing between project finance operations, such as those in the IBRD and the IFC, and the activities of a political risk insurer (MIGA). Therefore, MIGA relied heavily on the advice of Mr. Mervyn L. Weiner, the first director of the IBRD's Operations Evaluation Staff.
In 1988,42 World Bank member countries subscribed to MIGA's initial capital; 146 countries have since completed membership requirements, which include the signature and ratification of the MIGA Convention and the payment of a capital subscription. Another 18 countries are in the process of joining MIGA as of August 31, 1998. Since MIGA began operating in the summer of 1989, it has grown into an important catalyst of FDI flows into developing countries. The cumulative FDI facilitated between fiscal years 1990-98 is estimated at US$25 billion.
On-the-job training included such things as working with technology-intensive equipment and acquiring basic English language skills. AFP Integra-Peru: This private pension fund manager provides extensive training programs for its employees given the pioneering nature of this business in the country Direct Employment There is a virtual consensus among economists and policy makers that, in most countries, unemployment and underemployment remain key obstacles to achieving economic development. In MIGA's evaluation system, direct employment is defined as the number of employees, excluding expatriates,10 that a company hires specifically because of the investment.