9 posts found.
Selected Category: Latin America
Finnfund to participate a European financing package to support COVID-19 impacted businesses
Finnfund, a Finnish development financier and impact investor, invests EUR 10 million in a financing scheme of eleven members of EDFI, the Association of European Development Finance Institutions, and the European Investment Bank (EIB) to reduce negative impacts of the COVID-19 pandemic on economy and employment in developing countries. The financing package of EUR 280 […]
Read moreNovember 9, 2020
Sustainable teak and cocoa plantation in Nicaragua scores top impact points
A project to expand FSC certified teak and UTZ certified cocoa plantations in the rural Siuna region of Nicaragua scores exceptionally high points in Finnfund’s development impact assessment. The high score is based on the project’s contribution to carbon capture, protection of fauna and curbing deforestation as well as the various social impacts, such as […]
Read moreJanuary 20, 2020
El Salvador solar power project produces much more than just megawatts
Part of my job as Finnfund’s Environmental and Social Adviser is to monitor our investments over their entire life cycle. I observe the client’s compliance of critical environmental and social matters and make sure that agreed corrective actions have been implemented. That is why I recently visited our solar power investment in El Salvador. The […]
Read moreDecember 17, 2019
New forestry fund projected to sequester 20 million metric tons of CO2
Finnish development financier Finnfund has committed 10 million USD to a new impact fund for sustainable forestry, the Arbaro Fund (Arbaro). Arbaro is projected to sequester over 20 million metric tons of CO2 in its lifetime and create more than 5,000 jobs in remote areas. Arbaro aims to invest in and actively manage a well-diversified […]
Read moreSeptember 12, 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
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 provides funding for 40 MW power plant in Argentina
Finnfund has provided a senior loan facility worth USD 20 million to Methax S.A. for building a power plant in Mendoza, Argentina. The project company Methax is owned by a power investor Grupo Galileo. The power plant is supplied by Wärtsilä. The power plant will generate electricity from liquefied natural gas (LNG) which will be […]
Read moreAugust 24, 2017
FMO and Finnfund finalize exit Agua Zarca
Two of the lenders of the Agua Zarca hydropower project in Honduras, FMO (Netherlands Development Finance Institution), Finnfund (Finnish Fund for Industrial Cooperation), together with owner and developer DESA, mutually agreed to end their existing contractual relations. This joint conclusion was reached after extensive consultations with a large number of local and international stakeholders and […]
Read moreJuly 6, 2017
Frequently asked questions on the Agua Zarca run-of-river hydroelectric power generation project
The Agua Zarca Project is a proposed small-scale run-of-river hydro-electricity generation scheme of 21MW with an annual energy production of 99GWh. Finnfund has been one of the lenders since 2014. The other lenders of the Agua Zarca Project are the Dutch development finance institution FMO and CABEI (Central American Bank for Economic Integration). Finnfund participates […]
Read moreMarch 1, 2017