Development bank FMO makes profit

  1. Posted on Wednesday 24 August 2011 - 16:21
    Linda Larbie
    Linda Larbie, AfricaNews reporter in Accra, Ghana
    FMO, one of the largest bilateral private sector development banks worldwide, made a profit of EUR 69 million in the first half of 2011, an increase of 34% compared to HY2010, according to the company website.
    dollars
    In HY2011, FMO provided financing totaling EUR 342 million to businesses in developing countries - up more than EUR 100 million from HY2010's EUR 234 million in new investments - helping the private sector create jobs, and strengthen sectors essential for sustainable growth in developing countries, such as the energy, housing, financial and agricultural sectors. 55% was invested in low-income countries.

    Nanno Kleiterp, FMO's CEO, said: "We are satisfied with the results of the first half of 2011, which have proved once again that the investment opportunities in developing countries are good. Despite the challenging times in the eurozone and the US, we see that the steady growth in emerging markets and developing countries continues.

    FMO sees many good and professionally managed businesses in developing countries that are successful. The private sector plays a major role in poverty reduction, and these successes underline the importance of sustainable private sector development.

    Given the good state of the economy in many developing countries and our pipeline, our outlook remains cautiously positive for the second half of this year. We are pleased to note the significant increase in investment opportunities in renewable energy - among others wind, solar and geothermal - in all regions where we operate."

    Related articles can be found on: Africa Business Communities

Reactions

  1. Posted on Tuesday 24 January 2012 13:13
    Lisa00
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    Lisa Smith
    1 berichten
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  2. Posted on Thursday 02 February 2012 12:26
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  3. Posted on Monday 20 February 2012 11:34
    andrewpetersen
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  4. Posted on Wednesday 22 February 2012 12:37
    leon rockmore
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    1 berichten
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    Its happy news then. A concrete extension of this partnership is the alliance between Rabobank International Services and FMO’s Fund Emerging Market. Good post to share.
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  5. Posted on Friday 02 March 2012 19:26
    MrWashington
    Image of MrWashington


    511 berichten
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    K
    They are trying to make new jobs opened for people.
    The FMO makes a lot of money.
    I think the article is very interesting. yeaa thats cool
    la chava
  6. Posted on Friday 02 March 2012 20:14
    MrWashington
    Image of MrWashington


    511 berichten
    Lid sinds January 2010

    sebastian the main idea is fmo bank the bank is occuping jobs the fmo imakes lots and lots of money i think its cool that they make lots of money
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  7. Posted on Friday 02 March 2012 20:15
    MrWashington
    Image of MrWashington


    511 berichten
    Lid sinds January 2010

    quote:
    MrWashington wrote on 02 March 2012 @ 19:26:
    K
    They are trying to make new jobs opened for people.
    The FMO makes a lot of money.
    I think the article is very interesting. yeaa thats cool
    la chava
  8. Posted on Friday 23 March 2012 10:40
    evasbm
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  9. Posted on Friday 13 April 2012 11:55
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  10. Posted on Saturday 14 April 2012 05:02
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