The Investment Fund for Developing Countries (IFU) has a new Chief Executive Officer. The Danish Government has appointed the current Executive Vice President, Torben Huss, who will take up the position on 1 January 2019.
IFU’s Chairman of the Board, Michael Rasmussen, said:
I am very pleased with the appointment of Torben Huss as CEO. Torben Huss has extensive experience with investments in developing countries. He has also played a crucial role in IFU’s development over the last years, during which IFU has succeeded in establishing several new funds in cooperation with private investors, not least the Danish SDG Investment Fund with a current capital commitment of DKK 4.1bn. I look forward to the continued collaboration with Torben Huss to ensure that IFU’s investments contribute to meeting the 17 UN Development Goals to an even larger extent.
Minister for Development Cooperation, Ulla Tørnæs, said:
IFU is going through a significant development phase, and I am very pleased that Torben Huss has agreed to be head of IFU. In the last couple of years, IFU has become an important part of Denmark’s foreign and development policy toolbox. Torben has been an invaluable driving force behind IFU’s growth and development, and I look forward to continuing the fruitful collaboration.
CEO, Torben Huss, said:
IFU is in an important phase, where we, together with private investors and our State owners, have strengthened our role in the Danish development policy efforts. To achieve the UN Development Goals by 2030, we need to do more, and therefore I look forward to continuing the strengthening and development of IFU in close cooperation with our owners, investors, board, employees and other stakeholders.
IFU – Investment Fund for Developing Countries offers risk capital and advice to companies wishing to set up business in developing countries in Africa, Asia, Latin America and parts of Europe. Investments are made on commercial terms in the form of equity and loans to projects contributing to promoting economic and social development in the investment countries and enhancing the opportunities of Danish trade and industry in new emerging markets.
IFU is fund manager of a number of public-private funds, such as the Danish Climate Investment Fund, the Danish Agribusiness Fund and the Danish SDG Investment Fund.
IFU has invested in more than 1,250 projects in over 100 developing countries. Total expected investments amount to DKK 185bn, of which IFU has contributed DKK 20bn. The investments have created and preserved more than 1 million jobs, and in 2017 the companies paid DKK 2.8bn in local taxes.