For the fiscal year ending June 30, 2007, MIGA issued $1.4 billion in investment guarantees (insurance) for 29 projects in developing countries. The Board of Directors approved an additional $500 million in guarantees, for a total commitment of $1.9 billion for the year. This represents the third consecutive year of steady growth in guarantees issued by the agency. Of the guarantees issued, $387 million went to projects in IDA-eligible (the world’s poorest) countries, brining the agency’s outstanding exposure in IDA countries to 41 percent of its portfolio. Another milestone for FY07 was the integration of MIGA’s technical assistance services with the World Bank Group’s Foreign Investment Advisory Services. The integration of these groups creates a more coordinated, single interface for clients, donors, and other partners. The Highlights section includes messages from President Robert Zoellick and Executive Vice President Yukiko Omura.