Multilateral Investment Guarantee Agency CEO Visits PM      

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“THE government is doing everything it can in its capacity to making sure the Tina- Hydro Project achieve its outcome.”

Prime Minister Hon. Manasseh Sogavare states this when the Executive Vice President and Chief Executive Officer of the Multilateral Investment Guarantee Agency (MIGA) Keiko Honda, made a courtesy visit to his office.

According to the Prime Minister, the Tina Hydro Power Project is important for the country, as it is expected to put relief on the current high costs of power.

“The Government also see the Tina Hydro Power Project as the way forward to encourage more investors into the country as a result of the expected low cost to energy,” the Prime Minister said.

The Prime Minister further assured the MIGA’s CEO of the Government’s commitment to addressing any issues that might still be outstanding for smoother progress of the project.

He further took the opportunity to thank the World Bank Group and other development partners for their continuous support to the Solomon Islands.

Ms. Honda also conveyed to the Prime Minister of the World Bank Group’s commitment to continue to support the Solomon Islands Government in its development aspirations.

According to the CEO, this is the first-ever visit by a senior official from MIGA to visit the Solomon Islands and stated that the Tina Hydro Power Project is one of the Group’s first-ever Public-Private Partnership project in the Pacific.

MIGA is the political risk insurance and credit enhancement arm of the World Bank Group.

MIGA supports cross-border equity investors and lenders by providing coverage against currency inconvertibility and transfer restriction, expropriation, war and civil disturbance, breach of contract, and non-honoring of financial obligations.