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EU Finnfund Global Connected Guarantee initiative expands to new regions and energy investments

The European Union and Finnfund, a Finnish impact investor, have agreed to expand the EU Finnfund Global Connected Guarantee programme, unlocking an additional 80 million euros in guarantee capacity to support investments in both digital and energy infrastructure in the EU’s Neighbourhood East and Western Balkans regions. The expansion was officially announcedat a ceremony attended by the EU Commissioner for Enlargement Marta Kos and Deputy Director-General in charge of overall coordination of the strategy for Security and Migration and the Eastern Neighbourhood & Türkiye Adrienn Kiraly,

Finnfund invests in landmark Ecobank Nature Bond to boost sustainable agriculture and biodiversity in Africa

Finnfund has invested 15 million US dollars in a Nature Bond issued by Ecobank Transnational Incorporated  (ETI), marking the first issuance of its kind by a commercial bank in Africa. The bond will mobilise up to USD 450 million to finance sustainable agriculture, biodiversity and water infrastructure across sub-Saharan Africa.The financial instrument is aligned with the International Capital Market Association’s (ICMA) Nature Bond framework, launched in 2025. “Nature loss and food system resilience are

Finnfund invests USD 15 million in Toucan Forestal to restore forests and advance nature-positive impact in Panama

Finnfund, the Finnish development financier and impact investor, has signed a 15 million US dollar loan agreement with Toucan Forestal Panama S.A. (“Toucan Forestal”), an impact focused forestry company managed by global emerging markets and real assets investment manager The Rohatyn Group  (TRG). The investment supports Toucan Forestal’s afforestation, restoration, and conservation operations in Panama’s Darién region, one of the world’s most fragile and biodiversity‑rich ecosystems.  Finnfund’s investment in Toucan Forestal is the first to be assessed

Finnfund Digital Access Impact Fund I invests in Ecofy to accelerate India's retail green finance market

Ecofy , a pioneering green NBFC backed by Eversource Capital, today announced the successful closure of 42 million US dollars in fresh equity capital. The funding round saw participation from British International Investment (BII), the UK’s development finance institution, and Finnfund Digital Access Impact Fund I  (DAIF) managed by Finnfund, the Finnish development finance institution and impact investor, who joined as new investors. The investment reflects

Finnfund's Economist Tangeni Shatiwa: A weaker dollar is steering global investors toward emerging markets

International investors are now allocating funds to emerging market (EM) assets at the fastest pace seen in years. The main drivers are a weaker U.S. dollar and a desire to diversify portfolios away from the United States. It is therefore no surprise that emerging market assets have risen sharply; for example, the MSCI EM Index has climbed 47 per cent over the past year.“We believe that investing in emerging markets is currently highly attractive. Many of Finnfund’s target markets are projected to grow faster than advanced economies in the coming years, and even in the event of a global

Finnfund’s Hanna Loikkanen: Impact investing captivates private investors

The allure of impact investing among private investors is surging, with an increasing number seeking not just financial returns but also positive societal impact. According to the GIIN, the Global Impact Investing Network, assets managed by impact investors have increased at a compound annual growth rate of 21% over the past six years, with an 11% increase in the past year — a signal of enduring confidence in our market.“While much of the impact funding still comes from national and multinational banks and development finance institutions, the growth is a clear indicator of market

Finnfund expands support for digital infrastructure and climate action in South Sudan with follow-on investment in CREI

Finnfund, the Finnish development financier and impact investor, makes a follow-on investment in Communication & Renewable Energy Infrastructure  (CREI) to scale up sustainable telecom energy infrastructure in South Sudan. The 5 million US dollar investment is backed by the European Fund for Sustainable Development Plus (EFSD+) under the Africa Connected programme, which aims to accelerate digital inclusion and climate resilience. In total, Finnfund has now invested in 10 million US dollars in CREI. CREI specialises in deploying hybrid energy solutions for

Finnfund's Uusihakala: "Fixed broadband is the key to tackling poverty in developing countries"

Finnfund’s Juho Uusihakala argues that affordable, fixed broadband internet is the solution to poverty in developing nations. “To achieve this goal, we must overcome three digital divides—coverage, usage, and quality. This requires investment in companies delivering affordable fixed internet to places where it’s currently unavailable.”The UN’s International Telecommunication Union (ITU) states that the internet should be universal, accessible to all. But for connectivity to be truly beneficial, it must be fast, reliable, and affordable. “In Africa, for example, there are only eight million

Finnfund strengthens support to women entrepreneurs in Pakistan through Kashf Foundation

Finnfund has announced a follow-on loan of 10 million US dollars to Kashf Foundation (Kashf), one of the leading microfinance institutions in Pakistan. Kashf primarily offers microloans to women entrepreneurs as well as other innovative products and services such as pension savings, microinsurance, and telehealth clinics.The new senior loan of 10 million US dollars is Finnfund’s third senior loan to Kashf. Finnfund’s first investment of 10 million US dollars was made in 2021 followed by a second in 2024.  “At Finnfund, gender equality is a significant cross-cutting priority, and we are

Finnfund's Jussi Tourunen: "Energy solutions impact our planet's future—Planetary boundaries now guide investment decisions"

Investing in energy has become an increasingly central theme for development finance institutions such as the state-owned impact investor Finnfund. “Energy projects deliver impact and returns. The energy sector—and especially renewable energy—is now in almost every development financier’s sight,” says Jussi Tourunen, Associate Director at Finnfund.Finnfund now anchors its energy and infrastructure financing in the planetary boundaries framework, developed by the Stockholm Resilience Centre. The model outlines nine biophysical limits that human activity is straining—from climate and

Softlogic Life sets up growth roadmap with long-term capital from OP Finnfund Global Impact Fund I and Norfund

Sri Lanka’s top notch insurer Softlogic Life Insurance PLC has secured a 15 million US dollar landmark 5-year Tier 2 loan facility from Norfund and OP Finnfund Global Impact Fund I, that will be the initial part and set the next phase of growth for the successful life insurer that has established itself as the industry benchmark, whilst innovating and advancing technology, building AI capability with a view towards driving exponential valuation for key stakeholders. This latest step further reinforces Softlogic Life’s position as one of Sri Lanka’s most resilient and future-focused insurers,

Finnfund invests in Transvolt Mobility to support the electrification of heavy commercial vehicles in India

Finnfund, the Finnish development financier and impact investor, announces a 15 million US dollar equity investment in Transvolt Mobility  to fund Transvolt’s growing business of deployment of Electric Heavy Commercial Vehicle business in e-Buses and e-Truck segment across various business opportunities, namely Intra-city operation, Employee Transportation, Haulage solution, Ports etc. Finnfund’s investment is alongside the equity investment from the International Finance Corporation (IFC) 

Finnfund’s Kuutti Kilpeläinen: “Fibre networks are the best way to bridge the digital divide in emerging markets”

A major investment theme for next year: fibre networks. According to Kilpeläinen, fibre networks are currently the best way to bridge the digital divide—and to invest with impact. “In emerging markets, we see the fastest economic growth, the fastest population growth, and also the fastest growth in data. The need to build new networks is enormous.”Finnfund’s Kuutti Kilpeläinen and his team already have clear goals for 2026. Kilpeläinen works as Senior Investment Manager, Head of Digital Infrastructure and Solutions portfolio at Finnfund. “Our main task in 2026 is to promote digital

Finnfund’s economist Tangeni Shatiwa: “Investor confidence in Nigeria got a boost”

The current government of Nigeria has implemented a series of bold policy reforms to address structural weaknesses of the country. The reforms have provided a boost to growth in the country thus far and have put Nigeria back on the path towards reaching macroeconomic stability over the next few years. The Finnish impact investor Finnfund sees many positive signs in sight.“The progress has helped Nigeria to return to international capital markets at the end of 2024 after years of limited access, while also earning a credit rating upgrade in April of this year, which shows investor confidence

Finnfund closed a 4 million US dollar debt investment with Kenyan Poa Internet to expand affordable broadband

Finnfund closed a 4 million US dollar debt investment with Poa Internet Kenya Ltd. (“Poa Internet”), a Kenyan internet service provider, to expand its network and improve internet accessibility. The investment aims to support Poa Internet in bridging the digital divide by providing affordable broadband internet to underserved communities in Kenya.  “We are excited to support Poa Internet in expanding its provision of high-speed internet to lower income areas in Kenya. At Finnfund, digital infrastructure is one of our strategic priorities. Improving digital connectivity through

Finnfund's Chief Economist Kristiina Karjanlahti: "Developing Asia remains the growth engine of the global economy – despite the shock caused by tariffs"

Trump's tariff policy has been a series of continuous surprises, the latest being the differing views of the courts on their legality. The legal disputes are likely to continue for a long time and, although the outcome is uncertain, they have already caused significant and long-lasting waves in the global economy."Last autumn, the economic outlook for emerging markets in Africa and Asia was positive for the first time in a long while, as interest rate cuts began, and the financial market revived. A few more years to recover from the shock years and enjoy stable growth would have been

Finnfund's investment portfolio reaches EUR 887 million – more focus on advancing digitalisation, mobilisation of private capital, and Finnish added value

“For Finnfund, 2024 was a year of rethinking. We revisited our strategy while reaffirming our development mission”, says Jaakko Kangasniemi, Finnfund CEO and Managing Director. Finnfund, a Finnish development financier and impact investor, has published its Annual Report 2024. The report collates key information about Finnfund’s financial performance, sustainability, and impact, while sharing highlights and insights from last year. In 2024, Finnfund’s investment portfolio grew from EUR 830 million to EUR 887 million. At the end of the year, the investment portfolio, commitments, and

Investment Manager Kuutti Kilpeläinen, Finnfund: "Digital gap is a significant opportunity to create impact"

Impact investor and development financier Finnfund has put digital infrastructure and solutions at the heart of its new strategy . According to the World Bank, a ten percent increase in digital connections leads to a 2.5 percent increase in GDP. Nothing works or grows in isolation without connections. “A developing country falls further into the outer reaches of development if it is not properly connected to the surrounding world. If connections at the state level are weak, it puts the entire society and its citizens in an unequal

Finnfund announces succesful completion of multi-tranche green and sustainable bond offering

Finnfund, a Finnish development financier and impact investor, issues nearly 200 EUR million of green and sustainable bonds in 4 tranches. The transaction includes 50 USD million Green Bond due 2035 (4.75% coupon), 28 EUR million Sustainable Bond due 2032 (3% coupon), 60 EUR million Sustainable Bond due 2040 (3.5% coupon) and 65 EUR million Sustainable Bond due 2055. (3,6% coupon) The bond represents Finnfund’s first multi tranche issuance and includes longest ever maturity issued under its Sustainability Bond Framework established in September 2022. This transaction attracted interest

Heikki Cantell appointed as the new chair of the Finnfund Board of Directors

Heikki Cantell, the General Counsel and Secretary General at the Nordic Investment Bank (NIB), has been appointed as the new chair of the Finnfund Board of Directors. He has over 30 years of experience at publicly owned financial institutions with an impact mission.“Finnfund´s growth has been considerable, and its role has become even more significant and versatile, the most recent being investment operations in Ukraine. In this situation, it is both particularly interesting and a great responsibility and honour to serve as the chairman of the board.” Finnfund is a development financier

Finnfund boosts green and women-owned enterprises in Mongolia with an investment in XacBank

Finnfund invests in XacBank , one of the leading banks in Mongolia, to boost green growth and lending to micro, small, and medium enterprises (MSMEs), especially those owned by women. Finnfund’s 10 million US dollar senior loan facility is part of an IFC-led USD 90 million syndicated loan package and eligible for the 2X Challenge  gender investing initiative. XacBank will use 30% of this funding for on-lending to green projects the remaining 70% to MSMEs, of which 71%will be earmarked for women-owned ones. Green projects can include

Finnfund’s AA+ rating affirmed by Fitch Ratings

The credit rating agency Fitch Ratings has affirmed Finnfund’s credit rating at ‘AA+’ with Negative Outlooks. The rating covers Finnfund’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR), Short-Term Foreign- and Local-Currency IDRs, and senior unsecured debt. Fitch views Finnfund as a government-related entity (GRE) of the Finnish state (AA+/Negative) and its ratings are equalised with those of the Finnish sovereign. This equalisation is due to the state's strong control over Finnfund and the financial support it has received from it, based on Finnfund's unique

Cassava Technologies Receives $90 Million Equity Investment for Expanding Digital Infrastructure Across Africa

The U.S. International Development Finance Corporation (DFC), Finnish Fund for Industrial Cooperation Ltd (Finnfund), and Google LLC today announced an initial equity investment of $90 million into Cassava Technologies Limited (“Cassava” or the “Company”). Cassava is a market-leading and diversified information and communications technology (ICT) platform in Africa. Operating in over 30 countries, Cassava provides digital infrastructure and digital solutions to mostly enterprise and hyperscale customers across Africa with its primary operations in broadband connectivity, co-location (

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