Governance structure

FMO’s corporate governance structure is based on the premise that FMO has established a long-term partnership with various stakeholders who, directly or indirectly, influence or are influenced by the achievement of our objectives. Stakeholders include customers, the Dutch Government, shareholders and other providers of capital, employees, NGOs and local communities in the countries where we work, as well as partners.

FMO is expected to take the interests of all stakeholders into account at all times. In governance terms, this expectation is expressed through the responsibilities and accountability of the Management Board and Supervisory Board with regard to our shareholders and other stakeholders.

FMO’s Supervisory Board has non-executive responsibilities, including to supervise and advise the Management Board. New members of the Supervisory Board are appointed by the General Meeting of Shareholders on the nomination of the Supervisory Board. The Supervisory Board currently has three committees: the Audit and Risk Committee, the Selection, Appointment and Remuneration Committee, and the Impact Committee, which advise and prepare decision-making. The Impact Committee deals with subjects such as ESG (including human rights), impact strategy, impact measurement, (NGO) stakeholders and communication, reporting and international developments regarding impact.

The daily management of our bank lies with the Management Board. The members of the Management Board are appointed by the Supervisory Board. They are independent and the Supervisory Board deals with any conflict of interests. Appointments of members of the Supervisory Board and Management Board are subject to approval by the Dutch Central Bank, which assesses the reliability and suitability of candidates. FMO organizes extra training where necessary and offers a lifelong learning program to its Management Board and Supervisory Board members.

In 2022, the Management Board was expanded from three to five members to spread the increasing workload. FMO faces a number of challenges, including a growing pace of change in our markets, the growth of our organization and the need to engage more actively with a larger number of stakeholders. 2023 marked the first full year in this new setting.

Members of the Management Board

Details of the members of the Management Board per 31 December 2023, including their outside positions, are included in the following table.

Organizational chart

Our organizational structure per 31 December 2023 is as follows.