Finnfund collaborates closely with other European development financiers. Especially in projects of a large size or involving other significant risks, it can be advisable to share risks and the burden of project preparation and monitoring. The natural partners for this are other public development financiers that share similar objectives and business principles.
Along with fifteen other development financiers, Finnfund is a member of EDFI, the Association of European Development Finance Institutions. Within the group we share information on co-financing opportunities, target markets and best practices. For example, in improving environmental and social responsibility and development impact assessment, several working groups have been set up to create common tools and share information.
Most of Finnfund’s investments, especially in low-income countries, involve co-financing with other development financiers. We have collaborated extensively with the other Nordic institutions Swedfund of Sweden, Norfund of Norway, and IFU of Denmark. Other co-financiers include FMO (Netherlands), CDC (Britain), DEG (Germany), BIO (Belgium), Sifem (Switzerland) and Proparco (France).
In addition, Finnfund has participated in a sizable European Financing Partners (EFP) co-financing scheme through which the European Investment Bank and EDFIs finance projects prepared by one of the EDFI members.
Finnfund is a member of the Interact Climate Change Facility ICCF, which provides long-term financing for renewable energy and energy efficiency projects in poor countries suffering from energy shortages. Other members of the ICCF are Agence Française de Développement AFD, the European Investment Bank, Finnfund and other ten EDFIs.
Finnfund is a member of the Team Finland network, which promotes Finland and boosts the success of Finnish companies abroad. The network brings together all state-funded internationalization services for companies. It offers services from advice to financing and establishment of social relations.
Finnfund’s mission is to promote economic and social development in its target countries through investments in the private sector. Catalyzing Finnish know-how for projects in developing countries is Finnfund’s main niche.
For example, clean technologies from energy efficiency and renewable energy to waste management and recycling are areas where Finnish companies have considerable skills and solutions for solving problems in developing countries and promoting sustainable development.
In 2016, it was decided that Team Finland's operations would be renewed, with the aim of enhancing and developing the network's operations. Structural reforms will start in 2017.
During the year, there were a variety of Team Finland collaborations, consisting of individual projects, broader operational developments, and events in connection with the Slush Growth Event and Slush Impact Day. Finnfund also participated in several Team Finland export promotion trips abroad.
in 2016, the core of the Team Finland network consists of the Ministry of Employment and the Economy, the Ministry for Foreign Affairs, the Ministry of Education and Culture, and the publicly funded organisations and service points abroad operating under their guidance (Finpro, Tekes, Finnvera, Finnfund, Finnpartnership, Finnish Industry Investment, VTT, the Centres for Economic Development, Transport and the Environment, Finland’s cultural and academic institutes, the Finnish-Russian Chamber of Commerce and the Finnish-Swedish Chamber of Commerce).
- Helena Arlander, Director, Portfolio and Risk Management