Announcement of Jordan Signs the Convention Establishing MIGA on February 5, 1986

' FOR IMMEDIATE RELEASE World Bank INTERNATIONAL MONETARY :FUND JOINT LIBRARY 1818 H Street, N.W ., Washington , D.C. 20433 , U.S.A. fFB 2 BANK NEWS RELEASE ~pc t: Carol Stitt February 5, 1986 (202) 477-5322 JORDAN SIGNS THE CONVENTION ESTABLISHING MIGA The Hashemite Kingdom of Jordan today signed the Convention estab- lishing the Multilateral Investment Guarantee Agency (MIGA). The Convention was opened for signature on October 11, 1985. It will enter into force upon acceptance by a minimum of five capital-export- ing developed and 15 capital-importing developing countries whose subscrip- tions total some $360 million . Besides Jordan, eight countries have signed: Ecuador, Grenada, Korea, the Netherlands, St. Lucia, Senegal, Sierra Leone, and Turkey. Other developed and developing countries have indicated their intention to sign in the near future. MIGA is designed to stimulate increased flows of investment to developing countries by issuing guarantees agains t non-comillercial risks and by perforruing a wide range of promotional activities. His Excellency Mohamed Kamal, Ambassador to the United States, signed the Convention on behalf of the Hashemite Kingdom of Jordan. - 0 - 02f:.6 039-01. DucesY Ms. Brisitte IMF 530