World Bank encourages investments into Middle East and North Africa

On Monday a department of World Bank said that it would assign nearly $1 billion for insurance coverage for countries in the Middle East and North Africa to encourage foreign direct investment.

Underwriters of the Multilateral Investment Guarantee Agency, or MIGA, visited Egypt, Jordan, Morocco and Tunisia for discussions with the private sector, regional agencies and state-owned enterprises.

"Restoring investors' confidence is critical to the medium- to long-term economic and social development of the Middle East and North Africa," said Izumi Kobayashi, MIGA's executive vice president.