As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record of empowering people to employ their skills and improve their quality of life. Each month we give an overview of the transactions we have signed.
Africa REN Development
Renewable energy and infrastructure developer in Sub-Saharan Africa
FMO has approved the reinvestment of EUR 980,000 in development funding to support three advanced-stage infrastructure projects led by Africa REN Development. The funding will help bring to financial close a drinking water facility in the Republic of Congo, a 68MW solar PV plant in Chad, and two 50MW solar PV plants in Guinea. These projects are located in Least Developed Countries (LDCs) and contribute to SDGs on climate action, reducing inequalities, and economic growth. The reinvestment builds on the successful repayment of a previous development loan and strengthens FMO’s strategic pipeline in frontier markets.
ACWA Power Beruniy Wind FE LLC
Renewable energy developer in Uzbekistan
FMO provided a USD 42.8 million senior loan with ACWA Power Beruniy Wind FE LLC, a renewable energy company developing Central Asia’s first wind power plant with utility-scale battery energy storage. The project, located in Uzbekistan’s Qoraozak district, includes a 200 MW wind farm and a 100 MWh battery energy storage system. It is expected to generate over 700,000 MWh of clean electricity annually, reduce ~400,000 tons of CO₂ emissions per year, and create several jobs. The investment supports Uzbekistan’s goal of achieving 54% renewable energy in its electricity mix by 2030 and therefore carries a 100% Green label.
African Local Currency Bond Fund (ALCB Fund)
Pan-African catalyst for local capital market development
FMO has signed a USD 45 million senior loan with the African Local Currency Bond Fund (ALCB Fund), a longstanding partner that anchors local currency bond issuances across Africa. The Fund supports microfinance and MSME finance institutions—many of them first-time issuers—by attracting institutional and retail investors to local funding transactions. This facility includes USD 15 million mobilized through FMO Investment Management, marking a milestone in FMO’s progression model. The Fund’s investments promote financial inclusion, affordable housing, renewable energy, and agriculture, with a strong focus on Least Developed Countries (LDCs). This transaction carries a 100% Reducing Inequalities label.
Sudameris Bank
Leading commercial bank in Paraguay
FMO arranged a landmark USD 370 million syndicated loan for Sudameris Bank, marking our largest syndicated facility to date. Sudameris is a founding member of Paraguay’s sustainable finance roundtable and a pioneer in structured finance. The 7-year loan supports Sudameris’ strategic expansion in green finance and SME lending, with 28% allocated to climate-related investments and 72% to SMEs, including agri-businesses, women-owned enterprises, and rural SMEs. FMO is joined by FinDev Canada, JICA, Proparco, Banco Finantia, and Commercial Bank of Dubai as co-lenders. This transaction carries a 28% Green and 72% Reducing Inequalities label.
Banco CMF
Resilient SME-focused bank in Argentina
FMO signed a USD 25 million senior unsecured loan with Banco CMF, marking its re-entry into Argentina’s financial sector after a three-year hiatus. This transaction is FMO’s first green-labelled loan to a financial institution in Argentina and reflects renewed confidence in the country’s economic stabilization. The facility supports SME lending (70%) and green investments (30%), with a focus on longer-tenor loans to underserved businesses. Founded in 1978, CMF serves over 500 SME clients and plays a key role in financial inclusion. This transaction carries a 30% Green and 70% Reducing Inequalities label.
Ulusoy Un Sanayi ve Ticaret A.S.
Leading flour milling and agri-processing company in Türkiye
FMO has signed a USD 75 million senior secured loan with Ulusoy Un, a vertically integrated agri-food company and one of Türkiye’s largest flour producers. The facility supports the construction of a state-of-the-art pasta factory and expanded storage infrastructure near Samsun, while also refinancing existing loans. With 60% of pasta production aimed at export to low- and middle-income countries, the investment contributes to global food security and Türkiye’s position as a top pasta exporter. The loan includes a 7-year tenor and mobilizes additional institutional funding. This transaction carries a 42% Green and 58% Reducing Inequalities label.
