News
We publish news and press releases about our investments and other current topics.
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
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 […]
Read moreNovember 2, 2017
Finnfund invests in financial services technology platform Jumo
Finnfund, a Finnish development finance company, has made an investment in Jumo, a financial services platform providing mobile financial services in emerging markets. JUMO is a multi-sided platform for Mobile Network Operators and Financial Service Providers. To date, JUMO has served over 5 million people in Africa and Asia using behavioural data from mobile usage. […]
Read moreNovember 1, 2017
Why sustainable forestry is good business? Chris Burchmore from FSC® Africa explains
“Sustainable forestry is good business. It shows, for instance, as better planning of operations, financial management, cooperation with local people – and at the end of the day, as better products, too,” says Chris Burchmore, Director of FSC Africa. Deforestation and degradation of forests is a global challenge. According to FAO, Food and Agriculture Organization of […]
Read moreSeptember 28, 2017
Finnfund invites comments on the discussion paper concerning its tax policy reform
Preparing to reform its tax policy, Finnfund wishes to give all those willing to comment on its first discussion paper a chance to do so. The discussion paper will provide a basis for reforming Finnfund’s tax policy. It will also provide a basis for developing a tax tool which Finnfund will use to assess the […]
Read moreSeptember 14, 2017