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Table 20b. Read more about . .

2025 Performance

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2026 Outlook

For 2026, the World Bank projects that the global economic growth will ease slightly to 2.6 percent (from approximately 2.7 percent in 2025), as the temporary boost from an early spike in global trade and strong AI-related investment fades. Read more about 2026 Outlook .

2030 Strategy

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About this report

This integrated annual report covers activities that took place in or had an effect on the reporting year. The report covers the period from January 1, 2025 to December 31, 2025 and was published on March 24, 2026 on FMO’s website. Read more about About this report .

Activities

The activities of Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (hereafter referred to as FMO) consist of financing activities in developing countries to stimulate private-sector development. Read more about Activities .

Additionality

Additionality is a core principle of FMO’s work and a requirement under our agreement with the Dutch State. Read more about Additionality .

Aligned remuneration policies

The remuneration policies attach equal importance to investment and risk functions, by ensuring similar salary scale levels for both functions and avoiding bonus structures that incentivize excessive risk-taking. Read more about Aligned remuneration policies .

Alternative performance measures

An alternative performance measure (APM) is a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified in the applicable financial reporting framework. Read more about Alternative performance measures .

Analysis of financial assets and liabilities by measurement basis

The significant accounting policies summary describes how the classes of financial instruments are measured, and how income and expenses, including fair value gains and losses, are recognized. Read more about Analysis of financial assets and liabilities by measurement basis .

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