The MTN Group has received an additional political risk insurance worth US$82.1 from the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, to protect operations and support expansion of MTN Afghanistan. MIGA said on its website, in 2007 it provided US$74.5 million in coverage for the start-up of MTN's operations in Afghanistan but the additional coverage of US$82.1 million, issued this month to parent company MTN Dubai, will protect its equity investment and shareholder loan against the risks of transfer restriction and expropriation for a period of 10 years. “MTN Afghanistan's investment will focus on improving its mobile telecommunications infrastructure, increasing geographical coverage, and enhancing the quality of its mobile services in Afghanistan,” MIGA noted. MIGA observed that MTN had played a particularly significant role in expanding coverage in remote areas of Afghanistan, and provided mobile telecommunication services to 31 of the country's 34 provinces. Executive Vice President of MIGA Izumi Kobayashi was quoted as saying “foreign direct investment plays a critical role in rebuilding war-torn economies, but perceptions of political risk can understandably deter potential investors." He said MTN’s investment provided a strong pillar for economic growth and performs well financially, which demonstrates that business can thrive in challenging environments with appropriate risk mitigation. “We are pleased to continue to support this important investment for the people of Afghanistan," he said. Afghanistan has four mobile operators and its mobile network has increased by seven-fold in the past five years, with a penetration rate of 47%. The total number of mobile subscribers in Afghanistan is expected to grow to over 18 million by 2014. Story by Samuel Nii Narku Dowuona/Adom News/Ghana