Government loans €210 million for Finnfund development projects

The money will be used to fund projects that benefit women and girls; and also climate change projects.

File picture of Ville Skinnari (SDP) / Credit: FB

The government is giving a €210 million loan to Finnfund for development projects.

The loan – which must be paid back over 40 years – was announced on Tuesday morning by Ville Skinnari (SDP), Minister for Development Cooperation.

Half the money will be earmarked for projects that strengthen financial independence for women in developing countries, or provide services for women and girls. The other half of the money will be used to back projects that work to halt the effects of climate change.

“Achieving the UN Sustainable Development Goals requires substantial private investments in climate action, equality work, and the creation of jobs with fair working conditions” Skinnari says in a statement.

“In this work, too, Finland intends to play a bigger role than its size would suggest. I consider it important that we emphasise the position of women and climate action also when making investments” he adds.

Finnfund is a development financier which builds a sustainable world by investing in responsible and profitable businesses in developing countries. It offers  equity, long-term loans and other financing to private companies operating in developing countries. We also provide expertise on investing in developing markets.