Staying the course



Our impact and financial numbers show positive results in a highly volatile environment.


Decent Work & Economic Growth

€2,695 million

invested in developing and emerging markets in 2023

990 thousand

jobs supported

Reduced Inequalities

€1,140 million

invested in reducing inequalities; €335 million in companies and projects in least developed countries and €856 million in inclusive businesses

Climate Action

€1,091 million

invested in Green projects in 2023

2,061 ktCO2e

total financed avoided GHG emissions


In the past few years, global developments and changing stakeholder expectations and regulations have affected FMO’s impact agenda such that we felt the need to review our ambitions and strategic priorities towards 2030.

Our Strategy towards 2030: Pioneer - Develop - Scale, derives its name from our progression model. It shows our long-term commitment to companies, supporting them from an initial high-risk phase to the point where commercial investors can (partially) take over from FMO.


SDG 8 | 13

Red Rocket Holding, South African renewable energy developer.
Contributing to development, construction and operations of renewable energy projects in Africa.

SDG 8 | 10

Cash Plus, Financial service provider in Morocco. 
Increasing access to a growing demand of payment services.

SDG | 7 | 8 | 10 | 13

Walo Storage S.A.S.U, battery storage project in Senegal.
First battery storage project dedicated to frequency regulation.

SDG 8 | 13

Merensky Timber, timber company in South Africa.
Supporting the sustainable forestry sector and local economy through job creation.

SDG 7 | 8 | 13

Genneia S.A., Renewable energy generation company in Argentina.
Contributing to climate action for a just and inclusive transition for all customers.

SDG 2 | 8 | 10

Dashen Bank Share Company, Universal bank in Ethiopia.
Contributing to job creation and financial inclusion of rural communities.

SDG 2 | 8 | 10 | 13

HPW Fresh & Dry Ghana, Tropical fruit producer in West Africa.
Supporting small holder farmers activities and strengthening the agribusiness value chain.

SDG 8 | 10 | 13

Khan Bank JSC, Commercial bank in Mongolia.
First-ever green bond issued in the country.


Asociacion de Cooperativas Argentinas, Argentina's largest grain originator and agricultural inputs supplier.
FMO's first Agribusiness, Food and Water investment in Argentina in 4 years.

SDG 5 | 8 | 10 | 13

MCE Empowering Sustainable Argriculture Fund LLC, gender-inclusive agribusiness fund active globally.
Contributing to job creation and strengthening local communities and livelihoods.

SDG 5 | 8 | 10 | 13

GreenYellow Smart Solutions, Commerical and industrial renewable energy provider in Vietnam.
Increasing the supply of clean and affordable energy to commercial and industrial enterprises.

SDG 2 | 5 | 8 | 13

Limbomar and Limbopack S.A., Climate smart aquaculture company in Ecuador.
Creating jobs, primarly for women, and developing automation to increase food production efficiently.

Agribusiness, Food and Water sector

Accelerating sustainable and resilient agricultural supply chains to increase food security.

Energy sector

Driving and supporting sustainable energy access and transition.

Financial Institutions sector

Creating inclusive, resilient and sustainable financial sectors.

Total committed portfolio

€13.2 BLN

Where we invest

Africa €4.4bln • Asia €2.7bln • Europe and Central Asia €2.0bln • Latin America & the Caribbean €2.8bln • Non-region specific €1.3bln

2024 Outlook

We continue to set ambitious targets for the future to meet our 2030 strategic ambitions. In 2024, FMO will continue to focus on the following three priorities: growing impactful business by focusing on deals that contribute to reducing inequalities (SDG 10) and climate action (SDG 13), by improving our capabilities, and ensuring FMO’s foundation is solid.