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During fiscal year 2003, MIGA Board of Directors concurred with 43 individual investment guarantee operations. The Board also oversaw and reviewed MIGA’s strategy and policy planning process. As part of ongoing efforts to harmonize sectoral strategies for the World Bank Group, the Board discussed and endorsed the revised forest strategy. Through CODE, directors also had the opportunity to discuss the World Bank Group strategy in private sector development in the electric power sector, which was a joint review by the Operations Evaluation Department of the World Bank, the Operations Evaluation Group of the IFC and MIGA’s Operations Evaluation Unit.