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New policy statement guides Finnfund's investment activities in strengthening natural values and biodiversity

Development financier and impact investor Finnfund has adopted a policy statement that brings together the guiding principles and goals based on which Finnfund strives to strengthen the well-being and diversity of nature and to mitigate possible nature and biodiversity risks in its investment activities. The policy statement recognises biodiversity loss as a significant threat to the well-being of the planet and the sustainable development of societies and the economy. Companies and investors can actively protect and strengthen biodiversity through their own activities. Correspondingly,

Finnfund’s investment portfolio grew up to EUR 830 million – more focus on digitalisation and mobilisation of private capital

Finnfund, a Finnish development financier and impact investor, has published its Annual Report 2023. The report collates key information about Finnfund’s financial performance, sustainability, and impact. Last year, the company’s investment portfolio grew from EUR 810 million to EUR 830 million. Finnfund’s investments, commitments, and investment decisions totalled about EUR 1.23 billion at the end of the year. Africa remained Finnfund’s primary investment destination, accounting for 46% of volume and 30% of decisions. “I am pleased to say that, despite the somewhat challenging

OP Finnfund Global Impact Fund I invests in AwanTunai to foster the digitalisation and growth of the MSMEs in Indonesia

OP Finnfund Global Impact Fund I, the first Finnish global emerging markets impact fund has invested USD 5 million in equity in AwanTunai, an Indonesian fintech company. AwanTunai offers affordable inventory purchase financing, integrated online ordering, and inventory management solutions to merchants and wholesalers across the country. Through this investment, OP Finnfund Global Impact Fund I aims to foster the digitalisation and growth of Indonesian Micro, Small, and Medium-sized Enterprises (MSMEs), operating particularly in the fast-moving consumer goods sector (FMCG), that have

BII and Finnfund continue their support to women-led micro-enterprises in Pakistan through Kashf Foundation

Today, both British International Investment (BII), the UK’s development finance institution and impact investor, and Finnfund announced their continuing support to Kashf Foundation (Kashf), one of the leading microfinance institutions in Pakistan. BII has committed $15 million US dollars while Finnfund has committed $10 million US dollars as follow on investments. In 2021, Finnfund and BII made their initial investment in Kashf . Since then, Kashf has

Finnfund issues a EUR 100 million green bond

Finnfund, a Finnish development financier and impact investor, issues a EUR 100 million green bond. The 10-year bond bears interest at the rate of 3.5% per annum. The bond offering was placed to international investors, including a portion of dedicated green bond investors/portfolios. The bond represents Finnfund’s first ever green transaction and second issuance under its Sustainability Bond Framework established in September 2022. The proceeds from the issue will be used in accordance with the green project categories of Finnfund’s Sustainability Bond Framework to finance and/or

Finnfund’s Annual Report awarded as the best annual report of the year in Finland

Finnfund’s 2022 Annual Report has been selected as the best annual report of the year in the “Oma Media” competition of Procom, The Finnish Association of Communication Professionals. Finnfund’s annual report was praised as a balanced and visually high-level entity that reflects the company’s operations well. “We are glad and grateful for this recognition,” said Kirsi Pere, Communications Manager at Finnfund. “Impact investing and development finance may not always be the easiest sectors for communication as the greatest impact and results are generated by and through our investments

Finnfund invests in Metier Capital Growth Fund III to foster growth companies and job creation in Sub-Saharan Africa

Finnfund, a Finnish development financier and impact investor, has announced a USD 15 million commitment to Metier Capital Growth Fund III. The fund has a geographic focus on Sub-Saharan Africa and is expected to make eight to twelve equity and equity-related investments into mid-market companies with high growth features in sectors, including ICT and manufacturing amongst others, that benefit from regional economic and demographic trends such as population growth and increased urbanisation, and generate positive impacts. The fund is also firmly committed to enhancing gender equality

Finnfund provides 15 million US dollar loan to Ipak Yuli Bank in Uzbekistan

In Uzbekistan, access to finance for small and medium enterprises has been limited and the status of self-employed entrepreneurs has not been recognised, often leaving them outside formal finance. Ipak Yuli is one of the leading privately owned commercial banks in Uzbekistan focusing on private sector financing. With Finnfund’s 15 million US dollar senior loan, the bank can continue to develop their business with micro, small and medium sized enterprises.  “We are happy to sign our first deal with Finnfund. We look forward to long-term partnership in the area of supporting and increasing

Finnfund and DFC commit US$15 million in equity and loan financing to Kentegra Biotechnology to boost the expansion of pyrethrin production in Kenya

Kentegra Biotechnology was founded in 2017 and has quickly grown to become the leading pyrethrin producer in Kenya. Finnfund, the Finnish development financier and impact investor, and the United States International Development Finance Corporation (DFC) , a development finance institution and agency of the United States federal government, participated in the funding round, which gathered equity and lending capital to expand Kentegra Biotechnology’s operations. The investments, totaling US$15 million in aggregate, will enable Kentegra to process pyrethrum flowers from

Finnfund and FMO back SATYA MicroCapital with USD 35 million to make formal finance more accessible to women in India

Finnfund, the Finnish development financier and impact investor, and FMO, the Dutch entrepreneurial development bank, have announced a USD 35 million debt funding to SATYA MicroCapital Ltd, a Delhi-based RBI registered NBFC-MFI which provides affordable microcredit to women from low-income households across the rural areas of India. Finnfund invested in a USD 10 million ECB facility, with FMO providing a USD 25 million debt facility in the local currency. The company contributes to women empowerment by generating additional income earning opportunities and providing a more affordable

Finnfund’s investment portfolio grew with a profitable result

Finnfund is a development financier and impact investor. Last year, the company’s investment portfolio grew from EUR 780 million to EUR 810 million. Finnfund’s investments, commitments and investment decisions totalled about EUR 1.22 billion at the end of the year. Africa remains Finnfund’s primary investment destination, accounting for 57 per cent of volume and 54 per cent of decisions. These figures are presented in Finnfund’s Annual Report, which collates key information about Finnfund’s financial performance, sustainability, and impact. “2022 was an exceptional year in many ways.

Frontier markets are facing a credit crunch and heightened risk of debt distress

During the last decade, new sources of financing opened, especially for those lower-income countries catching up with emerging economies, many of which are called frontier markets[1]. The decade after the global financial crisis was characterized by ample liquidity and low interest rates in global financial markets and leading to investors seeking yield in riskier markets. At the same time, China significantly increased its overseas lending, specifically targeting emerging and developing economies. China’s agenda was to ensure access to natural resources needed to spur its fast growth and

Finnfund invests in Evolution III to foster the availability of clean energy and climate mitigation in Africa

Finnfund, a Finnish development financier and impact investor, has announced a USD 20 million commitment to Evolution III Fund, a Pan-African equity fund aiming to foster the availability and accessibility of clean energy and increase energy efficiency. Riikka Molander, Associate Director & Head of Funds at Finnfund said: “Our investment in Evolution III Fund marks our commitment to enhancing the production and availability of clean energy across the African continent as well as fight against climate change. This investment builds on several Finnfund’s strategic goals, such as making EUR

Finnfund sells its shares in Lake Turkana Wind Power to BlackRock

- "Undeniably one of the best wind sites in the world."Finnfund, a Finnish development financier and impact investor, has entered into an agreement to sell its shares in Lake Turkana Wind Power Limited (LTWP) in Kenya, owning and operating the largest wind farm in Africa. Finnfund has been a shareholder in the company ever since the construction of the wind farm began in 2014. The shares will be acquired by Climate Finance Partnership (CFP), a public-private finance vehicle managed by BlackRock Alternatives. The agreement has been signed, and closing is expected during Q2 of 2023. LTWP was

Finnfund and MLR Forestal to work on an innovative biodiversity remediation programme in Nicaragua

Finnfund, a Finnish development financier and impact investor, and MLR Forestal, a Nicaraguan agroforestry company, launched an innovative pilot project to restore 554 hectares of degraded forest lands with significant biodiversity potential in Nicaragua. MLR Forestal, established in 2013, a Finnfund investee since 2019, is an agroforestry company focusing mainly on production of teak and cocoa. The company currently manages approximately 5,000 hectares of land mostly in Siuna and a small proportion in Bonanza. The company areas are known for their high levels of biodiversity and are

Finnfund's 3.4 million US dollar investment in KaiOS helps bring affordable mobile connections to Sub-Saharan Africa

Finnfund invests 3.4 million US dollars in KaiOS Technologies , maker of KaiOS, the leading mobile operating system for smart feature phones. It has been estimated that 3.4 billion people in emerging markets do no use internet despite living in areas with mobile broadband coverage. One of the greatest barriers to mobile internet adoption is the cost of a smartphone, often being more than 20% of monthly income. KaiOS brings mobile connectivity to millions of people in emerging markets by providing an operating system that allows manufacturers and operators to make

Finnfund issues a EUR 75 million sustainability bond

Finnfund, a Finnish development financier and impact investor, issues a EUR 75 million sustainability bond. The 3-year bond carries a coupon referencing 6-month Euribor + 125 bps. The bond offering was allocated to approximately 10 Finnish and international investors, including a portion of dedicated sustainability bond investors/portfolios. The bond represents Finnfund’s first issuance under its newly established Sustainability Bond Framework. The proceeds from the issue will be used in accordance with Finnfund’s Sustainability Bond Framework to finance and/or refinance eligible

Finnfund publishes Sustainability Bond Framework

Finnfund, a Finnish development financier and impact investor, has established a Sustainability Bond Framework to strengthen its target to foster sustainable development by providing investment opportunities for private investors. The Sustainability Bond Framework is designed to support the future issuance of green, social and/or sustainability bonds by Finnfund. “Establishing a Sustainability Bond Framework is an important step for us. We strive to mobilise more funding for sustainable development and climate actions as well as provide other investors an opportunity to join this work,

Finnfund’s investment portfolio grew up to 780 million euros

Finnufund, a Finnish development financier and impact investor, has published its Annual Report for 2021 . Despite the challenging situation, investment activities maintained at a high level. At the end of the year, Finnufund’s investment portfolio stand at EUR 780 million. ”It was a challenging year. The COVID-19 crisis and political turmoil affected many countries we invest in as well as the markets. As a development financier our mission is to be there where we are needed most. We were able to maintain our investment activity at

Finnfund invests in Valency International to foster sustainable cashew production in Côte d’Ivoire

Finnfund, a Finnish development financier and an impact investor, announces today a USD 10 million debt facility commitment to Valency International Trading SARL, a Valency International Group company. Valency International Group is a diversified, integrated supply chain manager in agri commodities and agri inputs with subsidiaries in 15 countries. With the funding provided by Finnfund, the company is setting up a new state of the art cashew processing plant in Côte d’Ivoire and expected to become a leading cashew kernel processor in the country. The facility is expected to contribute

Finnfund opens its first regional office in Nairobi, Kenya

CEO Jaakko Kangasniemi: "Africa is the place to be for European development financiers"The Finnish development financier and impact investor Finnfund will open its first regional office in Nairobi, Kenya, in May 2022. Finnfund seeks to build a sustainable future and generate lasting impact by investing in businesses that solve global development challenges. The opening of the Nairobi office will strengthen the updated strategic goals.  The newly released strategy  places a strong emphasis on Africa, with half of Finnfund’s upcoming

OP Finnfund Global Impact Fund I invests in CIM Santé Group to support the development of the private healthcare sector in Morocco

OP Finnfund Global Impact Fund I, the first Finnish global emerging markets impact fund has invested USD 10 million in equity in CIM Santé Group, a leading Moroccan private healthcare group. Through this investment, OP Finnfund Global Impact Fund I aims to foster the development of Morocco’s healthcare sector, accessibility to quality care, and support gender equality in the sector. Founded in 1994 by Professor Assad Chaara – a pioneer in developing cardiac catherization in the country, CIM Santé Group has a strong focus on cardiology. Currently, the group operates three clinics in Rabat,

Finnfund and University of Helsinki to invest together into microfinancing in Africa and Asia

Finnfund, a Finnish development financier and impact investor, announce today a EUR 10 million debt facility commitment to the Advans Group , one of the leading international microfinance group serving over one million clients in nine countries: Cambodia, Cameroon, Ghana, Democratic Republic of Congo, Cote d’Ivoire, Pakistan, Nigeria, Tunisia, and Myanmar. University of Helsinki participates in this investment with Finnfund. Through this funding, Finnfund and University of Helsinki aim to generate funding for micro and small businesses and promote

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