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.
780
million euros
241
million euros
98%
targeted countries in three lowest income categories
(€, OECD, DAC)
-177,136
tCO2e (2020)
83,000
direct jobs (2020)
8,300
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
Investments
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 investmentsPrevious Annual Reports
Finnfund’s annual report is published in April-May.
Annual Review 2020 (pdf)
Annual Review 2019 (pdf)
Annual Report 2018 (pdf)
Annual Report 2017
Annual Report 2016
Annual Report 2015
Annual Report 2014
Annual report 2013
Annual report 2012
Annual report 2011 (pdf)
Annual report 2010 (pdf)
Annual report 2009 (pdf)
Annual report 2008 (pdf)
Annual report 2007 (pdf)
Annual report 2006 (pdf)
Annual report 2005 (pdf)
Annual report 2004 (pdf)
Annual report 2003 (pdf)
Annual report 2002 (pdf)
Annual report 2001 (pdf)
For older annual reports, please contact Finnfund’s communications team.