Management’s Discussion & Analysis and Financial Statements

This document provides Management’s analysis of the financial condition and results of operations for the Multilateral Investment Guarantee Agency (MIGA or “the Agency”) for the fiscal year ended June 30, 2018 (FY18). 

For FY18, new guarantee business reached a record high of $5.3 billion in support of 39 projects and reflects an 8% growth over FY17 new business volume of $4.8 billion, and nearly double FY13 level of $2.8 billion. Since inception, the Agency has issued more than $50 billion of guarantees and supported over 845 projects. Of the 39 projects supported during FY18, 33% were in IDA-eligible countries, 15% were in Fragile and Conflict-Affected Situations (FCS) and 59% were projects related to Energy Efficiency and Climate Change (EECC), with all three being strategic priority areas for MIGA. These guarantees are expected to provide power to 8 million people, better access to telephone service to 1.4 million people, increase patients’ consultation to 10.3 million people, create over 22,000 jobs, generate $1.4 billion in taxes and fee revenue to the host governments per year, and avoid 3 million metric tons of CO2 emission.