Finnufund, a Finnish improvement financier and affect investor, has revealed its Annual Report for 2021. Regardless of the difficult state of affairs, funding actions maintained at a excessive degree. On the finish of the yr, Finnufund’s funding portfolio stand at EUR 780 million.
”It was a difficult yr. The COVID-19 disaster and political turmoil affected many international locations we put money into in addition to the markets. As a improvement financier our mission is to be there the place we’re wanted most. We have been in a position to keep our funding exercise at a excessive degree and exceeded our funding targets each in numbers and quantity,” stated Jaakko Kangasniemi, CEO, Finnfund.
On the finish of the yr Finnfund’s investments, commitments, and funding choices totalled about 1.12 billion euros, half of them in Africa. Internet revenue was adverse significantly as a result of COVID-19 pandemic and conflicts in a number of international locations, similar to Ethiopia, Myanmar, and Ukraine. In 2021, Finnfund made 28 new funding choices, totalling 241 million euros. 98% of the brand new funding choices focused international locations in three lowest earnings classes by OECD DAC.
”Now we have additionally taken vital steps in our affect and sustainability work. In spring 2021, we reported a carbon web adverse funding portfolio – most likely as the primary improvement financier on this planet. In our new technique we additionally commit to maintain it that means,” Kangasniemi provides.
On the finish of the yr, Finnfund adopted a brand new technique, setting operational pointers till 2025. The technique accommodates three key strategic aims: double whole affect from 2020 to 2025, improve the share of personal capital as much as 50% in our investments by 2030, and keep a carbon web adverse portfolio.
