MEFEO stands for the Multilateral Investment Guarantee Agency (MIGA) - European Federation of Engineering Consultancy Associations (EFCA) Organization, which is an international professional and business organization. It is a strategic partnership between MIGA and EFCA, established to promote investment in emerging markets and facilitate collaboration between engineering consultancy firms.
MEFEO's primary objective is to support and enhance the role of engineering consultancy firms in mitigating investment risks in emerging economies. It aims to create a conducive environment for their participation by providing guarantees against non-commercial risks and sharing knowledge, expertise, and best practices in project development, management, and implementation.
The MEFEO provides guarantees to engineering consultancy firms against various risks including political interference, breach of contract, expropriation, and currency inconvertibility. These guarantees help promote private sector investment in emerging markets by giving confidence to investors and lenders.
Furthermore, MEFEO encourages collaboration and information sharing amongst its members. The organization acts as a platform for engineering consultancy firms to exchange knowledge, experiences, and learnings from their projects in emerging economies. This collaboration not only helps in capacity-building but also enhances the quality and efficiency of project development and execution.
Overall, MEFEO is a partnership organization that plays a crucial role in promoting investment, mitigating risk, and facilitating collaboration in emerging markets for engineering consultancy firms.
