This Annual Report highlights the progress and results achieved during FY20. It provides an overview of grant-making activities in six regions and across GFDRR’s eight targeted areas of engagement. It explores some areas of the work in greater depth and includes financial statements for the fiscal year. GFDRR is committed to further strengthening its monitoring and evaluation (M&E) systems, ensuring that evidence and lessons from across the portfolio inform management decisions, accountability, and learning. Results of the FY20 program, as measured against the facility’s results indicators, are available in the report’s annex.