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Foreign Direct Investment
The Multilateral Investment Guarantee Agency (MIGA) in financial year 2021(FY21) issued $5.6 billion in CVID-19 relief to date as part of their $6.5 billion COVID-19 Response Program. In FY21, 25% of MIGA issuances were in low-income countries and fragile settings and 26% went towards supporting climate finance.
Foreign direct investment in Africa has seen a decline of 16% in 2020, this is according to the recently published UNCTAD’s World Investment Report 2021. COVID-19 had a significant impact on FDI on the continent from $47 billion in 2019 to $40 billion in 2020.
The government of Algeria is preparing to launch a call for tenders for independent power producers (IPPs). The aim of this call for expressions of interest is to select companies to produce 1,000MW of renewable energy.
Global FDI totalled $1.39tn in 2019, and are expected to rise moderately in 2020, according to a UN Conference on Trade and Development Investment Trends Monitor.