The Multilateral Investment Guarantee Agency (MIGA) was established on April 12, 1988 and forms part of the World Bank Group. MIGA’s purpose is to encourage the flow of foreign direct investment to its developing member countries for economic development. Its primary means of facilitating investment is through the provision of investment guarantees against the risks of currency transfer, expropriation, and war and civil disturbance

Membership to the organisation is open to all World Bank members

The procurement of goods and services for projects financed by the World Bank is not done by the Bank itself, but by the borrowing country or the administering agency in the borrowing country. The procurement nevertheless takes place under strict World Bank rules. It is estimated that approximately 30 000 contracts for the procurement of goods, works and services are awarded annually.

A typical range of goods procured for these projects include: communication and telecommunication equipment, closed circuit television and surveillance systems, aviation communications systems, power generating and distribution equipment, vehicles, agricultural machinery, transport equipment, industrial plant, and mining and road-making machinery. In addition "smaller items" such as hospital furniture, pharmaceuticals, education items and laboratory equipment are also procured.

Procurement of civil works is undertaken for the construction of buildings, road earth works, civil engineering, power stations, grain silos, housing and special development.

Consultancy services are procured in the fields of architecture, civil, structural, mechanical, electrical and environmental engineering