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​Swedfund Strengthens its Commitment to Renewable Energy Asia Fund II

Press Releases   •   Dec 14, 2017 07:42 GMT

Swedfund, Sweden’s development finance institution, has made an incremental commitment of MUSD 5 to Renewable Energy Asia Fund II (REAF II) and further strengthened its contribution to the build-out of renewable energy in developing Asian countries.

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​Maria Håkansson named new CEO of Swedfund

Press Releases   •   Dec 06, 2017 14:35 GMT

Swedfund’s Board has appointed Maria Håkansson as the new CEO. Maria Håkansson joins Swedfund from Ericsson, where she was Vice President Internet of Things (IoT). Maria Håkansson has held a number of senior roles at Ericsson.

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Swedwatch report highlights important issues

News   •   Nov 08, 2017 05:29 GMT

Swedwatch has presented a research report around the human rights impact from Swedfund’s investment in Addax Bioenergy during the investment period and in connection with the exit in 2015.

Gerth Svensson, acting CEO of Swedfund, comments:

”Swedfund’s objective is to combat poverty through investing in sustainable businesses in the poorest countries in the world. We are continuously improving our operations, and we value the research made by Swedwatch, highlighting important issues. This is a clear example of a very challenging and complex situation, where our human rights efforts could have been stronger in some areas. We have in our strategic process identified human rights processes in connection with investments and exits as an area for improvement going forward.”

Swedfund entered into a minority holding (8%) in Addax Bioenergy, producer of bio-ethanol, in 2011. The project had the prerequisites for becoming a sustainable business, creating employment and contributing to reduction of poverty in Sierra Leone, one of the poorest countries in the world. However, the project did not develop according to plan, partly due to the dramatic change of the European price of bio-ethanol and the outbreak of Ebola, which led to production halts during a longer period. In connection with further capital injections, Swedfund’s holding was reduced to 1%, seriously limiting our possibilities of meaningful impact with regards to our three fundamental pillars, impact on society, sustainability and financial viability. Consequently, Swedfund transferred the holding to the main shareholder at that time, AOG. Later, the business was acquired by Sunbird Bioenergy, and today employs around 2,500 individuals according to the Swedwatch report.

Human rights is one focus-area for Swedfund. In order to further develop Swedfund’s Human Rights work and to ensure that Swedfund complies with the UN’s Guiding Principles on Business and Human Rights and Sweden’s National Plan for Human Rights, Swedfund performed a gap analysis in 2016 of our human rights processes. The objective was to support Swedfund in the evaluation and management of human rights risks and consequences in connection to new and existing investments and exits. We identified strengths, deficiencies and areas for improvement. In line with this, Swedfund has offered a partly-financed study covering aspects of human rights and development impact in Sierra Leone to the new owners of Addax Bioenergy, Sunbird Bioenergy, in order to transfer valuable knowledge and experiences. Further, Swedfund intends to further develop the dialogue with civil society and development actors to improve the overarching co-operation in connection with exits having human rights impacts. 

​Swedwatch has presented a research report around the human rights impact from Swedfund’s investment in Addax Bioenergy during the investment period and in connection with the exit in 2015. Gerth Svensson, acting CEO of Swedfund, comments.

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Great potential for job creation in the private sector and manufacturing industry

News   •   Nov 02, 2017 09:15 GMT

We have focused our efforts in the sectors deemed best able to achieve development, which is in line with our mission. Where we have the greatest opportunity to generate benefits depends on a number of factors, such as experience in the sector and where we can best achieve results in equality, the environment and the creation of jobs.

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Sustainable energy - a prioritised sector

News   •   Oct 11, 2017 11:18 GMT

​Sustainable energy for all is an explicit goal in Agenda 2030. It is also a prioritised sector for Swedfund’s investments. Electrification drives development, and is essential for jobcreation and combating poverty.

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This is why we invest in financial institutions and funds

News   •   Oct 02, 2017 06:59 GMT

​An effective finance sector is fundamental for a country’s economic growth. By investing in banks and funds, Swedfund contributes to financial inclusion, job creation and sustainable businesses.

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The Development Impact

News   •   Sep 21, 2017 06:13 GMT

Financing for sustainable development can come from several sources; aid, private capital, domestic tax-based financing and from development finance institutions. The sources of finance can be regarded as different, but complimentary, tools in the fight for sustainable development. Here we explain about the tools, focusing on what the development finance institution achieves.

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Private finance essential to achieve the global goals

News   •   Sep 07, 2017 08:50 GMT

Our joint ability to mobilise finance is decisive if we are to achieve the global goals. The traditional sources of finance are insufficient: the amount invested must go from billions to trillions. This makes private finance essential.

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Swedfund and FMO gives NMB Bank $15 million line of credit

News   •   Sep 05, 2017 07:10 GMT

The Development finance institutions Swedfund of Sweden and FMO of the Netherlands have agreed to provide NMB Bank with a line of credit for lending to exporting small and medium enterprises (SMEs) in Zimbabwe.

Together with FMO, who has been supporting NMB for the past five years, Swedfund is setting up a four-year line of credit. The syndicated loan was signed in 2016, and the first tranche is now disbursed. It is intended to enable NMB Bank to provide much needed support to Zimbabwe’s SME sector.

“Our investment will support NMB in its important work to target SMEs, with special focus on businesses that are exporting goods and services. It is all about job creation and inclusive growth where the SMEs will be crucial for coming development steps in Zimbabwe”, Gerth Svensson, CEO of Swedfund, said.

“We are excited about this development. It will certainly go a long way in supporting economic growth in the country. SMEs are the backbone of the Zimbabwe economy and NMB have been aggressive in sourcing cheaper and long-term finance to support this critical sector of the economy”, Gerald Gore, Chief Operating Officer at NMB, said.

​The Development finance institutions Swedfund of Sweden and FMO of the Netherlands have agreed to provide NMB Bank with a line of credit for lending to exporting small and medium enterprises (SMEs) in Zimbabwe.

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The future is now. Let’s accelerate Agenda 2030.

News   •   Aug 29, 2017 09:09 GMT

​2016 is the first year on the road towards the global goals. It is the first year all countries are following a common agenda to root out extreme poverty and counteract the climate threat. Swedfund’s Integrated Report 2016 explains how we integrate the global goals in our business model and investment process.

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  • Press Contact
  • Director Strategy and Communication
  • iuogonkaribkn.drkrpciaonhohhffyeer@swenddfund.dvsckcqgtvse
  • +46 8 725 94 38

About Swedfund

Reducing poverty through sustainable business

Swedfund is the Swedish government’s Development Finance Institution, contributing through sustainable investment to economic and environmental development as well as a positive impact to society in the world poorest countries.

Address

  • Swedfund
  • Drottninggatan 92-94
  • P.O. Box 3286, SE-10365 Stockholm
  • Sweden

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