The Multilateral Investment Guarantee Agency (MIGA) was established in 1985 through a convention and it became operational in April 1988. MIGA was primarily set up to encourage equity investment and other direct investment flows to member countries and with particular attention to the developing countries through the mitigation of non-commercial investment barriers. Membership of MIGA is prohibited to World Bank member countries, which have equal voting powers. It guarantees investors against non-commercial risk advises the governments of developing member countries on the design and implementation of programmes, policies and procedures related to foreign investment and ensuring that it sponsors dialogue between the host governments on investment prospects and the international business community.