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November 2, 2017

Finnfund’s initial reaction to the Gaipe Report

On 6 July 2017, FMO and Finnfund finalized their exit from the Agua Zarca project in Honduras.

Following the murder of Berta Cáceres, a well-respected human rights activist, FMO and Finnfund publicly expressed the deepest sorrow at her violent death. We have called upon the Honduran authorities for a thorough investigation and continue this call to hold those responsible to account.

FMO and Finnfund strongly reject any claim of illegality regarding our role in any project. At all times, we operate within the applicable legal framework. It is important to note that we were never consulted for the Gaipe report and we do not recognise the allegations we have come across. We will now study the report in more detail and consider our next steps.

We are development finance institutions. We partner with others to invest in local prosperity because we care about people; so much so that we invest in countries where prosperity is not a given.

Therefore, FMO and Finnfund condemn all kind of violence, do not tolerate illegal conduct and are serious about respecting human rights.

Finnfund has strengthened its own investment and monitoring processes. One of the aims is to better account for risks related to changing socio-political environments, and to provide support for the projects and project companies in changing environments. Finnfund also seeks to ensure that indigenous peoples’ rights are respected and local communities and other stakeholders are heard also in countries, where the state is not capable to fulfil its obligations under international principles.

We cannot stress enough that we too want justice to prevail so that those responsible will be held to account through a fair trial.

For more information:
Jaakko Kangasniemi, Managing Director, jaakko.kangasniemi(a), tel. +358 40 577 7676

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