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 enabling people to employ their skills and improve their quality of life. Every month we provide an overview of our new investments, which can be seen below.
Wind power generation company in Argentina
Vientos Bonaerenses S.A., a subsidiary of AES Argentina, that owns and operates wind power assets in Buenos Aires Province. FMO participated as a B-lender with a USD 20 mln commitment, as part of a USD 100 mln senior unsecured corporate A/B loan arranged by IDB Invest. The Green financing supports the expansion of Phases III and IV of the Vientos Bonaerenses wind complex, adding 102.4 MW of wind generation capacity to increase the total installed capacity to 202.2 MW. Electricity produced by the facility is expected to be commercialized through private offtake agreements under Argentina's MATER framework, contributing to the growth market-driven of renewable energy in the country.
Agricultural Producer in Ukraine
Kischenzi LLC is an FMO client of 15 years and a diversified agricultural company based in Ukraine's Cherkasy region, operating across crop farming, dairy, vegetable, and pig production under Dutch management. FMO signed a USD 16 million debt financing facility to fund Kischenzi's capital expenditure program, which includes herd expansion and new barns for dairy and pigs as well as upgrades to farming machinery and equipment. The investment qualifies for a 39% Green label, through improvements to manure management systems and biodigester infrastructure to reduce methane emissions and generate renewable electricity for on-farm use.
Forestry in Argentina
Acon Timber is part of Austria's HS Timber Group and operates a large-scale, high-tech sawmill in Virasoro, Corrientes Province, Argentina. FMO provided a USD 30 million senior unsecured loan to support investments in processing capacity and working capital as the company expands its operations. The sawmill processes locally sourced pine into value-added products, including sawn, planed and finger-jointed lumber, as well as wood pellets. The transaction qualifies for a 100% Green label, with USD 20 million financed by the Dutch Fund for Climate and Development (DFCD), funded by the European Commission. The Green label reflects Acon's PEFC Chain of Custody certification and HS Timber Group's responsible sourcing policy. The processing facility also produces pellets from wood chips, sawdust and wood shavings, ensuring full utilization of all by-products and supporting a "100% zero-waste" design. Acon's role as a major local timber buyer also supports market demand for sustainably managed plantations and encourages broader adoption of forest certification in the region.
Commercial bank in Azerbaijan
Unibank is a mid-sized bank in Azerbaijan with a strong position in retail banking and a growing focus on financing micro, small and medium-sized enterprises (MSMEs) through conventional and digital channels. FMO invested USD 50 million loan facility, of which USD 25 million uncommitted tranche, with a tenor of four years and availability in both Azerbaijani manat and US dollars. The financing supports the growth of the bank’s loan portfolio and strengthens its balance sheet structure. The facility will finance eligible Micro entrepreneurs, and Youth, Women and Agri SME customers across Azerbaijan. The transaction contributes to expanding access to finance for underserved businesses and supports inclusive economic growth.
Commercial bank in Tanzania
CRDB Bank is Tanzania’s largest bank, serving individuals, MSMEs, and corporate clients through an extensive nationwide banking network. FMO provided a USD 27 million senior loan to support the continued expansion of lending to small and medium-sized enterprises across Tanzania. The transaction carries a 100% Reducing Inequalities label supporting financial inclusion by expanding access to finance for businesses that contribute to economic development and job creation.
Commercial bank in Vietnam
Nam A Bank is a mid-sized Vietnamese private commercial bank and one of the country’s top 15 banks by total assets. FMO provided a USD 60 million senior unsecured loan, of which USD 25 million is allocated to green projects, with 42% of the investment carrying a Green label. The remaining portion of the five-year facility will be directed toward underserved SMEs, particularly businesses owned by women and young people, qualifying for a 58% Reducing Inequalities label. The funds will support sectors including agriculture, agricultural value chains, and rural development. By expanding access to long-term capital, the investment aims to help businesses reduce emissions, respond to climate change, and transition toward more sustainable production models.
Private Equity Fund in India
South Asia Growth Fund IV (SAGF IV) is a private equity fund managed by GEF Capital Partners and the successor to South Asia Growth Fund II and III, in which FMO was also an investor. FMO committed USD 20 million to the fund, which provides growth equity and quasi-equity financing to mid-market companies in India operating in sectors that support climate mitigation and adaptation. This Green financing will support businesses active across the climate solutions value chain, including the circular economy, renewable energy supply chains, energy transition enablers, industrial decarbonization, food and agriculture, water and wastewater management, clean transportation, and green buildings.
