Key events in 2017
FMO’s working environment was dynamic in 2017. The organization is well aware of challenges, requirements and opportunities that the current multi-stakeholder environment brings to the organization and to its way of working in projects. FMO’s clients are its primary partners, yet it is the clients’ social and environmental impact, that really matters. That is why FMO engages with stakeholders at an early stage of a project’s development and why it is committed to being fully accountable to them. Similarly, ensuring that it is attentive and responsive to the State of the Netherlands matters to FMO: as the Dutch development bank, it has a significant role to play in and contribution to make to the implementation of the national commitments to the SDGs. Increasingly, Dutch businesses are becoming important partners to FMO in co-contributing to these commitments.
In its Strategy 2025, FMO has identified three SDGs as particularly relevant: SDG 8 Decent Work and Economic Growth (measured by the number of jobs supported), SDG 10 Reduced Inequalities (measured by increasing share of reducing inequalities investments), and SDG 13 Climate Action (measured by GHG avoided and increasing share of green investments). FMO will contribute to reduced inequalities by focusing on inclusive businesses and prioritizing least developed countries in Africa and Asia. Regarding the cooperation with Dutch businesses, a new vehicle to enhance the effectiveness of such cooperation is being developed under the leadership of the State of the Netherlands, under the provisional name of Invest-NL. In preparation of the establishment of Invest-NL, FMO took an important step by already positioning its NL Business activities in the newly established 100% subsidiary NedLinx B.V.
In September 2017, Jean Frijns stepped down as Chairman of the Supervisory Board, closing a seven-year tenure. We are extremely grateful for the role that he played during these years. As Chairman, Jean Frijns took particular pride in stimulating FMO’s sustainability strategy. More in general, making use of his extensive corporate governance expertise, he facilitated professionalization of the organization. He also played an important role in appointments at the Supervisory Board and the Management Board of the organization. Per October 1, 2017 Pier Vellinga took over Jean’s role as Chairman.