In 2010, IFU’s total contracted investments amounted to DKK 559m. Thus the high demand from Danish businesses for co-financing from IFU continued.
IFU – Investment fund for developing countries advises and invests with Danish companies. In 2010 IFU experienced a high demand for advice and financing. In total the Fund contracted investments of DKK 559m in 45 project companies. IFU invested DKK 241m in Africa and DKK 212m in Asia. The remaining amount was invested in Latin America and a global microfinance fund. IFU only contributes with part of the investment and hence the total investments are significantly larger and expected to amount to around DKK 4bn.
Total employment in the 32 new project companies that IFU invested in in 2010 is expected to be around 6,000 persons.
– We are pleased that once again we were able to contribute to Danish companies setting up business in the new emerging markets, and that investments are being channelled to developing countries and create growth and employment, says Finn Jønck, managing director of IFU.
IFU’s financial result for 2010 showed a profit of DKK 67m.
Focus on SMEs
In 2010, nearly 60 percent of IFU’s contracted investments in new companies were made with small and medium-sized Danish companies. In Africa the share is 75 percent.
– It is important for Denmark and the Danish economy that small and medium-sized companies gain access to the new markets. Therefore we are pleased that IFU to a large extent can assist that type of company in setting up business in developing countries and emerging markets that normally are not easily accessible when Danish businesses move abroad, says Finn Jønck.
You can read IFU’s Annual Report 2010 here.
For further information, please contact Rune Nørgaard, Head of Communication, tel +45 33 63 75 60