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19 posts found.

Year selected: 2018

New forestry fund projected to sequester 20 million metric tons of CO2

Finnish development financier Finnfund has committed 10 million USD to a new impact fund for sustainable forestry, the Arbaro Fund (Arbaro). Arbaro is projected to sequester over 20 million metric tons of CO2 in its lifetime and create more than 5,000 jobs in remote areas. Arbaro aims to invest in and actively manage a well-diversified […]

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Finnfund invests USD 19 million in Zain Iraq to rebuild Iraqi network

Finnfund today announced a USD 19 million loan to Iraq’s leading mobile network provider Atheer Telecom Iraq, known by its brand name Zain Iraq. Zain Iraq, a member of Kuwait-based Zain Group, has been operating in Iraq since 2004. The financing allows Zain Iraq to modernize its network in Northern Iraq as well as enhancement […]

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Lenita Toivakka to Finnfund Supervisory Board, Antero Toivainen to Board of Directors

The Annual General Meeting of the Finnish development finance company Finnfund has appointed Ms. Lenita Toivakka, MP, to its Supervisory Board and Mr Antero Toivainen to its Board of Directors. Lenita Toivakka served as Finland’s Minister for Foreign Trade and Development in 2014-16 and currently holds a seat in the Foreign Affairs Committee of the […]

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Finnfund updated its strategy

Finnfund’s Board of Directors has approved a new strategy for the company, setting operational guidelines until 2025. Finnfund’s mission is to build a better world by investing in responsible and profitable businesses in developing countries. The company’s vision is to be, by 2025, a valued partner and frontrunner in impact among European development finance institutions. […]

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Evaluation of Finnfund’s special risk financing completed – the focus successfully shifted to the poorest countries

The evaluation of the special risk financing, commissioned by the Ministry for Foreign Affairs, which is responsible for steering Finnfund’s operations, has been completed. According to the evaluation, the special risk financing has worked out as planned, as the focus of Finnfund’s investment portfolio has shifted to the poorest countries and to high-risk projects with […]

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Finnfund provides funding to Access Bank to support Nigerian agribusiness

Finnfund, a Finnish development finance company, provides a loan of USD 12 to Nigerian Access Bank, aiming to support the development of Nigeria’s agricultural sector, increase productivity and reduce dependence on import of agricultural and food products. The funding will be used to support private business involved in agricultural production, processing and distribution. Agriculture remains […]

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Finnfund’s tax policy was renewed – tax responsibility at the core of the operations

Finnfund has renewed its tax policy. Tax policy consists of Finnfund’s principles and practices to assess and promote tax responsibility in its own operations and in the projects it finances. Projects financed by Finnfund must be both economically viable and responsibly implemented, and must generate development effects in the target countries. Finnfund requires the projects […]

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Finnfund to finance 10 solar power plants in El Salvador

Finnfund has provided a USD 15 million loan for the construction of ten solar power plants in El Salvador, Central America. Power plants are expected to be fully operational in 2019. Together, they will have a capacity of 100 megawatts. The company responsible for the project is Bosforo Ltda de CV, owned by two companies […]

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Memorandum for 2018 on the steering of Finnfund activities by the Ministry for Foreign Affairs

The memorandum for 2018 on the steering of Finnfund has been published. The Ministry for Foreign Affairs, the main shareholder, steers Finnfund’s operations by means of an annual memorandum. This document defines Finnfund’s specific function in promoting development and sets objectives for its development policy operations, operational development and financial profitability. Its basis is the Government […]

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