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Guarantee agency vice president to visit Kenya

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By agencies

The Multilateral Investment Guarantee Agency (MIGA) Vice President Michel Wormser, and Chief Operating Officer of will visit Kenya Thursday.Mr Micheal Wormser is expected to meet with senior government officialsMr Micheal Wormser is expected to meet with senior government officials

Mr Wormser’s visit underscores MIGA’s continued support to the country’s development goals, especially as Kenya builds its power generation capacity through private sector investment

.Wormser will meet with senior government officials and representatives of banks, and other private sector entities.

In June, MIGA—the political risk insurance and credit enhancement arm of the World Bank Group— announced its latest support for Kenya’s energy sector by insuring a non-shareholder loan to independent power producer (IPP) Gulf Power Limited—one of a series of IPP plants being developed by the government of Kenya and supported by the World Bank Group.

His visit is aimed at identifying additional areas where MIGA can help the country mobilize capital for important projectsto help the country meet its development objectives.

“Our ongoing support to Kenya’s energy sector is a strong demonstration of how the agencies of the World Bank Group can mobilize significant volumes of private sector investment to provide an essential service and be helpful in advancing the country’s development agenda,”said Wormser.

He arrives in Nairobi after talks in Tanzania and Zambia.

 

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