News

Finnfund invests in Proximity Finance to help reach more smallholder farmers in Myanmar

Proximity Finance, Myanmar’s first farmer-focused finance institution, signs a 14 million US dollar equity package with Finnfund, Nordic Microfinance Initiative (NMI) and Proparco. Proximity Finance was launched in 2010 as the microfinance arm of Proximity Designs, one of the largest agricultural services platforms in Myanmar, that provides farm technology, agronomy advice and financial services to […]

July 1, 2020

2X Challenge exceeds initial target by committing and mobilizing $4.5 billion in capital towards women’s economic empowerment

Just two years after the launch of the 2X Challenge at the G7 Charlevoix Summit in Canada, the initiative has committed and mobilized a total $4.5 billion in gender-smart investments. Founding G7 DFIs contributed and mobilized $4.1 billion, surpassing the initial target of $3 billion by the end of 2020. DFIs remain the primary source […]

June 30, 2020

OP Finnfund Global Impact Fund I raised EUR 76 million in the first round of funding

OP Finnfund Global Impact Fund I raised EUR 76 million in the first round of funding. As the first Finnish impact fund to invest in emerging markets, the fund targets significant sustainability impacts in addition to profits. The fund made its first close on 17 June 2020. For example, Finland’s Church Pension Fund, Security Trading […]

June 17, 2020

Robert Wihtol: Finnfund to step in where we are needed the most

“During the pandemic, we have to be prepared to step in where we are needed the most”, says Mr Robert Wihtol. The new Chair of Finnfund’s Board of Directors, appointed this April, finds Covid-19 a great challenge but also an opportunity to finance innovative companies. Most importantly, the current situation offers Finnfund an opportunity to […]

May 27, 2020

Ritva Laukkanen: Privileged to be part of Finnfund’s transformation

Is this the new normal, asks Ritva Laukkanen, Finnfund’s former Chair of the Board of Directors, in the midst of the Covid-19 crisis. After being part of a major transformation in recent years, Laukkanen believes that Finnfund is well positioned to face the crisis. How does it look like when looking back on those years […]

Impact study highlights the transformative nature of jobs in one of the poorest counties in Kenya

Creating and supporting decent jobs is Finnfund’s key objective. A study by Niras Kenya on Socio-Economic Impact of Lake Turkana Wind Power in Marsabit highlights the transformative nature of jobs in one of the poorest counties in Kenya. The study found that with a job at the company, employees’ incomes more than doubled to nearly EUR 900 […]

May 26, 2020

BOPA accelerates financial inclusion and female leadership in Asia

Access to financial services in developing countries is scarce, and it hampers the ability for people to improve their livelihood. Backed financially by Finnfund and IFU, BOPA is funding and developing microfinance institutions in Asia and has recently joined the 2X Challenge, a G7/DFI initiative to mobilise financing for women’s empowerment. Creating financial inclusion is […]

May 14, 2020

Finnfund invests 15 million US dollars to strengthen the agricultural supply chain in Africa

Finnfund is one of the investors in a syndicated loan to ETC Group (“ETG”). ETG has developed into a global player with a diverse portfolio of expertise across multiple industries, encompassing agricultural inputs, logistics, merchandising and processing, and supply chain optimization, with most of its footprint in Africa. ETG operates in 26 African countries and […]

May 11, 2020

Finnfund made a record number of investment commitments in 2019

In 2019, Finnfund made a record 29 investment decisions with a total value of 237 million euros. Our investment assets grew by 13% to 557 million euros. The investments focused on high-impact projects in low income countries, particularly in Africa, which is fully in line with Finnfund’s strategic goals. At the same time, we were […]

May 7, 2020

New members to Finnfund’s governing bodies

Finnfund’s Annual General Meeting held on 22 April appointed new members to the Board of Directors and the Supervisory Board. The Board of Director’s new chairperson is independent development banking specialist Robert Wihtol. Mr Wihtol takes over from Ms. Ritva Laukkanen who served two full terms. The new vice chair of the Board is Deputy […]

April 22, 2020