"Starting with support to media companies in countries transitioning from communist systems to free markets back in 1996, to being at the forefront of investing in digital news and information startups in emerging and frontier markets in 2019, MDIF has invested in 119 independent media businesses across 42 countries in total. As of December 2019, we had provided $231.2 million in financing, including $203.4 million in loans and equity investments, $27.2 million in technical assistance (TA) and TA grants and $0.6 million through a secure payment service for independent media. MDIF finished December 31, 2019 with $115.2 million total assets under management. Our portfolio included 42 independent media companies spread across 28 countries, from India to Lesotho and from Peru to Malaysia. The largest share of our assets under management — 78.9% — were in Southeast and Eastern Europe, with 11 companies in our portfolio, followed by Asia at 9% (10 companies), Africa at 6.8% (7 companies), Eurasia at 3.3% (4 companies) and Latin America at 1.6% (8 companies), in addition to 0.4% allocated to 2 international projects with global reach. In 2019, MDIF invested $55.2 million in 10 media companies across 10 countries, in addition to continuously servicing existing investments and providing technical assistance and strategic advice. Across five funds, six media companies were assisted with follow-on financing, while four were new to our portfolio. We also extended our operations to two new countries – Guyana and the Philippines." (Page 11)