Finnfund congratulates Ahtisaari
13/10/2008
Finnfund congratulates president Martti Ahtisaari, the recipient of 2008 Nobel peace prize. President Ahtisaari was the Chairman of Finnfund’s Board of Directors in 1984-86 and was also more generally an influential background figure for the company through the 1980s and 1990s.
Finnfund congratulates president Martti Ahtisaari, the recipient of 2008 Nobel peace prize. President Ahtisaari was the Chairman of Finnfund’s Board of Directors in 1984-86 and was also more generally an influential background figure for the company through the 1980s and 1990s.
“Major private-sector investments rarely take place in the middle of armed conflicts. Development financiers can do little more in such situations than to wish good luck for the type of peace building, President Ahtisaari was now recognized,” says Finnfund’s managing director Jaakko Kangasniemi.
“But as soon as an agreement has been reached, it is vitally important that the private sector starts to invest. Unless new jobs are created and living conditions start to improve, violence is likely to restart. In post-conflict situations risks tend to be excessive for commercial financiers, hence the role of public development financiers tends to be crucial,” Kangasniemi points out.
Over the years Finnfund has financed several projects in countries that have been recovering from wars or other armed conflicts. “At least in one project that was disbursed last year and in another under preparation we are trying to do our part to promote the peaceful development that builds on an agreement brokered by President Ahtisaari,” Kangasniemi reports.
