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Viewing cable 09STATE31398, WORLD BANK'S MIGA PLANS IRAQ TRIP AND ENGAGEMENT

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Reference ID Created Released Classification Origin
09STATE31398 2009-04-01 15:34 2011-08-24 16:30 UNCLASSIFIED Secretary of State 
INFO  LOG-00   EEB-00   AGRE-00  AID-00   A-00     CA-00    CEA-01   
      CIAE-00  COME-00  INL-00   DINT-00  DODE-00  DS-00    EUR-00   
      E-00     FBIE-00  UTED-00  VCI-00   FOE-00   OBO-00   TEDE-00  
      INR-00   IO-00    L-00     MOFM-00  MOF-00   M-00     VCIE-00  
      NSAE-00  NSCE-00  OES-00   OIG-00   OMB-00   NIMA-00  EPAU-00  
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      EPAE-00  PMB-00   DSCC-00  PRM-00   DRL-00   G-00     SCA-00   
      SAS-00   FA-00    SWCI-00    /001R

    
R 011534Z APR 09
FM SECSTATE WASHDC
TO IRAQ COLLECTIVE
 
UNCLAS STATE 031398 
 
 
E.O. 12958: N/A 
TAGS: AORC BEXP BTIO EFIN EINV OTRA IZ
SUBJECT: WORLD BANK'S MIGA PLANS IRAQ TRIP AND ENGAGEMENT 
 
1. (SBU) Representatives of the Departments of Treasury, 
Commerce, and State met with the head of the World Bank 
Group's Multilateral Investment Guarantee Agency (MIGA), 
Executive Vice-President Izumi Kobayashi, and Chief Operating 
Officer James Bond, to discuss MIGA's incipient efforts at 
supporting foreign direct investment in Iraq.  With Iraq 
having completed all ratification and membership requirements 
in October 2008, MIGA is now able to consider applications 
for political risk insurance for investments into Iraq and 
for foreign investments by Iraqis. 
 
2. (SBU) Departing from Washington on April 4, a MIGA/World 
Bank delegation will travel to Iraq, including Bond; World 
Bank Executive Director (ED) representing Iraq, Merza Hasan; 
Senior Advisor to the ED Tariq Alhaimus; World Bank Iraq 
Country Director Hedi Larbi; and well as International 
Finance Corporation executive Michael Essex.  The delegation 
intends to call on Embassy Baghdad. 
 
3. (SBU) MIGA sought input from the USG on sectors in which 
it might fruitfully focus.  MIGA traditionally does the 
largest fraction of its work (by value) in the financial 
services sector.  One challenge is that investors are unaware 
these services are now available for Iraq.  We suggested MIGA 
could publicize its new role at the upcoming Iraq investment 
conference hosted by the UK,s Department for International 
Development (DFID) April 30th in London.  World Bank will 
also be carrying out an Investment Climate Assessment to help 
chart investment opportunities and needed reforms. 
 
 
CLINTON