LONDON, July 14 (Reuters) - The World Bank Group's Multilateral Investment Guarantee Agency (MIGA) and Deutsche Bank have launched a €1 billion ($1.17 billion) guarantee platform aimed at expanding trade finance in frontier and emerging markets, the organisations said on Tuesday.

The initiative marks MIGA's first standalone trade finance portfolio guarantee platform with a global commercial bank.

• Under the framework, MIGA will provide guarantees to Deutsche Bank to cover the risk of non-payment on eligible trade finance transactions involving state-owned banks in developing economies.

• The platform will help sustain and expand trade finance availability in markets where risk appetite is deteriorating and financing gaps are growing, MIGA added.

• MIGA’s trade finance guarantees are designed to provide protection against losses resulting from the failure of a sovereign, state-owned bank or public authority to pay an unconditional financial obligation related to a trade finance transaction.

• A "meaningful share" of the trade finance volume supported by the platform is to be directed toward priority areas, including low-income countries eligible for International Development Association (IDA) support, "fragile and conflict-affected" states, as well as sectors such as agriculture, health and water.

• Deutsche Bank DBKGn.DE said the partnership would expand its collaboration with multilateral development institutions and increase its capacity to support trade flows in higher-risk markets.