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Year 2021

In 2021, the COVID-19 crisis and political turmoil in many of our target countries continued affecting our work. Despite this, Finnfund acted in accordance with its mission and made new investments throughout the year. We exceeded our investment targets in numbers and volume, and at the end of the year, Finnfund’s investments, commitments, and investment decisions totalled about 1.12 billion euros, half of them in Africa.

In addition, we took significant steps in our impact and sustainability work. We also adopted a new strategy, setting our operational guidelines until 2025.

Read more about Finnfund’s year in our Annual Report.

Annual Report 2021 (pdf) Financial Statements 2021 (pdf)

Watch the video

Watch a Recap of Finnfund’s
year 2021!

We put together a short video to summarise our year.



million euros

New investment decisions


million euros

Of new investment decisions


targeted countries in three lowest income categories
(€, OECD, DAC)

Investees' net emissions


tCO2e (2020)

Finnfund investees generated


direct jobs (2020)

Finnfund investees generated


GWH of clean energy (2020)

Chief Executive Officer’s review

“Resilience is the word that best describes the year 2021: the resilience of people in pandemic lockdowns, and in political and market turbulence, and the resilience of the planet in climate turmoil,” says Jaakko Kangasniemi, Finnfund’s Managing Director and CEO.

“The strength and unexpected longevity of the COVID-19-pandemic has significantly affected our activities and projects all over the world for another consecutive year. Despite limited abilities to travel to our project countries, we have put our best efforts into monitoring, supporting, and collaborating with and for our investment community and other partners. As a result, Finnfund has held its course and was able to maintain its investment activity at a high level, aligned with its mission.”

Read Chief Executive Officer’s review (pdf)

Jaakko Kangasniemi CEO of Finnfund

Jaakko Kangasniemi, CEO

Watch the video


The coronavirus pandemic and especially the resulting travel restrictions hindered project preparations in 2021.  However, the project preparation targets for 2021 (EUR 200 million and 22 projects) were clearly exceeded: a total of 28 new projects totalling EUR 241 million were prepared fully in 2021.

57% of these investment decisions were targeted in Africa, and 98% targeted countries in three lowest income categories by OECD DAC.

Read more about our investments