News
We publish news and press releases about our investments and other current topics.
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 […]
Read moreApril 25, 2018
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. […]
Read moreApril 12, 2018
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 […]
Read moreFebruary 28, 2018
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 […]
Read moreFebruary 15, 2018
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 […]
Read moreJanuary 15, 2018
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 […]
Read moreJanuary 5, 2018
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 […]
Read moreJanuary 3, 2018
Pasi Rajala appointed Communications Director at Finnfund
Pasi Rajala has been appointed Communications Director at Finnfund as of 8 January 2018. Rajala has about two decades of experience from communications and almost ten years of experience from development issues. He has held communications posts at the UN Development Programme (UNDP) in Tanzania, New York and Copenhagen. In Finland, he has worked as […]
Read moreDecember 8, 2017
Finnfund to finance the largest wind farm in Serbia
Finnfund, together with Taaleri Aurinkotuuli, a Finnish investment fund, has made an investment in Cibuk 1 wind farm, located in Vojvodina, Northern Serbia. The 158 MW wind farm will consist of 57 GE turbines, and once operational, can produce up to 475 GWh of power per year. The wind farm is expected to reach full […]
Read moreNovember 29, 2017
Finnfund to invest with an IFC-led consortium to support the world’s largest solar park in Egypt
Finnfund, a Finnish development finance company, participates in financing the construction of 13 solar power plants in southern Egypt, near the city of Aswan. The plants will be part of the larger Benban Solar Park, which, once complete, will be the largest solar installation in the world. Finnfund’s investment amounts to a total of USD […]
Read moreNovember 13, 2017