All countries belonging to IBRD are eligible to join MIGA. Its current membership stands at 167 countries.
Each member country is represented on the Council of Governors, which meets annually but delegates its power to a Board of Directors with 24 members. The Board of Directors oversees MIGA’s day-to-day operations. While MIGA is legally separate from the World Bank, its Board of Directors is comprised of the same members as the World Bank’s Board, with slightly different voting shares. MIGA is divided into eight functional units under the leadership of an Executive Vice President. The current Executive Vice President of MIGA is Yukiko Omura.
The current functional units:
- Underwriting Department
- General Counsel
- Legal Affairs and Claims Department
- Central Administration Department
- Finance and Risk Management Department
- Policy and Environment Department
- Investment Marketing Services Department
- Operations Evaluation Department
Additional information
Accountability at MIGA: Compliance Advisor/ Ombudsman (CAO)
MIGA’s activities fall under the jurisdiction of the Compliance Advisor/Ombudsman (CAO) office, an internal World Bank Group body charged with assisting MIGA and IFC Management to improve their environmental and social performance and resolve problems related to the impacts of their projects on affected populations. For more information on the CAO, see BIC’s CAO page.