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.

Definitions of political risk terms vary among political risk providers, such as arbitration, coinsurance, expropriation, mediation, tenor and more. For more information on each provider's definition of terms, consult the provider's website.

The latest MDB climate finance figures are detailed in the 2017 Joint Report on Multilateral Development Banks’ Climate Finance, combining data from the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank Group and the World Bank Group (World Bank, IFC and MIGA).

This document presents MIGA’s three year strategy for the period FY18-20. Chapter 1 discusses the external environment and the World Bank Group’s response. Chapter 2 examines MIGA’s products, business model, and results of the FY15-17 strategy. Chapter 3 considers the context and objectives for MIGA’s FY18-20 strategy and the business and financial implications of the new strategy.

Since the global financial crisis began in 2008, lending to Hungarian businesses has declined sharply, mainly as a result of deleveraging and strict credit allocation decisions of foreign banks operating in the country.

The World Investment and Political Risk report examines the overall trends in political risk perceptions, foreign investment intentions, and longer-term demand for political risk insurance (PRI), especially in emerging economies.The research conducted for the report includes an Economist Intelligence Unit survey of multinational investors that addresses their risk perceptions for developing countries in the short and medium term.