Finland: Finnfund’s investments promote the status of women in the developing countries

NordenBladet — Microloans that increase women’s income and strengthen their financial independence. Better food security through financing targeted at smallholder farmers. Companies where half of the management are women. Finnfund, a government-owned development financier, has invested recently in companies of this kind in developing countries. The key aim is not only profitability, but to also promote equality.

E-commerce platform Kasha makes reliable contraceptives, menstrual care products and self-care products better available in East Africa. Photo: FinnfundImpact investment has become an increasingly important form of investment in the world and is growing at a quick pace. Finnfund’s impact investments are one channel for Finland’s development cooperation appropriations.Improving the position of girls and women is a priority in Finland’s development policy and also one of the key goals of Finnfund’s investments.

In 2019, the Ministry for Foreign Affairs granted Finnfund a EUR 105 million loan as a development policy investment to be invested in projects that promote equality in 2019–2021. During one and a half years, Finnfund has already tied more than EUR 120 million to targets that strengthen the financial independence of women in developing countries or provide important services for girls and women. The goal set for the government loan was achieved ahead of time.

Ville Skinnari, for Development Cooperation and Foreign Trade, considers investment in equality and companies in the developing countries important.”Investing in girls and women is always wise and useful because gender equality is the precondition for sustainable development in society. It is especially important now as the coronavirus pandemic especially hits women-dominated sectors in the developing countries. Promoting gender equality through business investments is also an internationally growing phenomenon, and Finland is strongly involved in it,” Skinnari says.Women in the management and as customers

Source: Valtioneuvosto.fi