The Multilateral Investment Guarantee Agency (Miga) â€” the political risk insurance arm of the World Bank â€” and the Japanese credit insurance agency Nippon Export and Investment Insurance (Nexi) have agreed to share risk in insuring Japanese investments in developing countries.
In a statement, Miga said it has sealed a partnership deal with Nexi to share risk in the form of reinsurance packages on investments made by Japanese firms in developing countries.
The purpose of the deal is to ensure that the two agencies will continue to support projects that may be considered too risky or challenging to handle on their own.
Miga executive vice-president and CEO Keiko Honda said the agreement with Nexi helps the World Bank unit work more closely with Japanese firms. Nexi chairman Kazuhiko Bando said that Miga and Nexi will use their own strengths to help Japanese firms develop effective investment projects.
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