The Dutch development bank FMO committed USD 40 million to GCPF in January 2015. FMO joins a range of other public and private investors in the Fund, and is the fourth development bank to commit funds to GCPF - alongside the IFC, KfW and OeEB. As a public-private partnership, GCPF relies on funding from governments and development banks to leverage private funding, notably through the issuing of notes.
The commitment from FMO brings the total commitments to GCPF to over USD 370 million. To date, the Fund has invested USD 230 million in energy efficiency and renewable energy projects through financial institutions as well as directly in developing countries.
FMO finances businesses, projects and financial institutions in developing and emerging markets, with the aim of supporting sustainable private sector development. FMO’s investments are focused in the sectors where their contribution can have the largest long-term impact: financial institutions; energy; and agribusiness, food & water.
Henk Nijland, Manager - Financial Institutions - Eastern Europe and Central Asia at FMO, stated “FMO’s current strategy is to double our development impact and half our ecological footprint by 2020. Our investment in this innovative fund will contribute to spurring economic growth while helping reduce GHG emissions which makes GCPF an excellent partner for FMO reach this goal.”
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