17 Related parties

FMO considers the Dutch Government, subsidiaries, associated companies, the Management Board (MB) and the Supervisory Board (SB) as related parties. 

In the first half of 2023 no changes in the composition of the MB and the SB have occurred. The SB expects to be able to announce the appointment of a new SB member in the existing vacancy during the course of the second half of 2023. The MB consist of 5 members since December 1, 2022.

In the first half of 2023 M-Kopa Kenya Limited was transferred from State Fund Access to Energy Fund and State Fund MASSIF to FMO (€8.5 million).

In the first half of 2022, the FMO Representative Office LAC Limitada legal entity was created in Costa Rica. This subsidiary is 100% owned by FMO. The consolidation of this entity does not have a material impact on FMO's balance sheet or FMO's current business activities.

During first half of 2022, Nedlinx B.V. was liquidated and is no longer part of the consolidation structure of FMO's consolidated accounts. The subsidiary was 100% owned by FMO. The event of liquidation of this entity does not have a material impact on FMO's balance sheet or FMO's current business activities.