1 / 8

I N S U R I N G I N V E S T M E N T S E N S U R I N G O P P O R T U N I T I E S

I N S U R I N G I N V E S T M E N T S E N S U R I N G O P P O R T U N I T I E S. MIGA GUARANTEES for CARBON FINANCING Patricia Veevers-Carter Paris – November 19-20, 2003. MIGA Guarantees Program. Investors/ financial institutions. Commercial Risk. Non-commercial Risk. MIGA.

dyllis
Download Presentation

I N S U R I N G I N V E S T M E N T S E N S U R I N G O P P O R T U N I T I E S

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. I N S U R I N G I N V E S T M E N T S E N S U R I N G O P P O R T U N I T I E S MIGA GUARANTEES for CARBON FINANCING Patricia Veevers-Carter Paris – November 19-20, 2003

  2. MIGAGuarantees Program Investors/ financialinstitutions CommercialRisk Non-commercial Risk MIGA • Coverages • Transfer restriction and currency inconvertibility • Expropriation • War and civil disturbance • Breach of contract

  3. MIGA’S GUARANTEE PROGRAMExpropriation Protects against losses arising from • Nationalization and confiscation • Creeping expropriation • Claim does not depend on an award against Host Government

  4. MIGA’S GUARANTEE PROGRAMBreach of Contract Protects against losses arising from: • Breach or repudiation by Host Government of a contract with the investor • Could includes wrongful call of Performance Bonds • Claim triggered by non-payment of an arbitration award by Host Government

  5. MIGA’S GUARANTEE PROGRAMBreach of Contract Mechanism Breach of Contract Amicable Resolution Mediation Arbitration Successful Resolution Unsuccessful Arbitration Successful Arbitration Enforcement Local Court Host Government Pays MIGA Pays Claim

  6. MIGAPossible MIGA coverage for JI and CDM • Expropriation without an award • Opinion of ICC International Center of Expertise, or other agreed forum • Opinion establishes that loss seems to be caused by a breach of the Kyoto Protocol by the Host Government

  7. MIGAPossible risks to be covered for JI and CDM • The Host Government revokes the Kyoto Protocol or other agreement under Greenhouse Gas Emission legislation • The Host Government is disqualified as a JI Track 1 country • The Host Government does not allocate the amount of ERs promised • The Host Government fails to transfer ERs for any other reason • The Host Government does not establish a designated national authority (DNA)

  8. Thank you!Please visit us at www.miga.org pveeverscarter@worldbank.org

More Related