Dutch Entrepreneurial Development Bank (FMO)

FMO is a financial institution based in the Netherlands that focuses on private sector development in developing countries. Founded in 1970, FMO aims to support sustainable private sector growth by investing in ambitious projects and entrepreneurs across 85 countries. Its mission includes generating jobs and improving people’s lives in regions where it can make the most significant impact.

Shell Foundation and FMO have a Memorandum of Understanding (MoU) to support the just and inclusive energy transition in sub-Saharan Africa and India. The multi-year agreement signed in 2022 will explore new climate financing opportunities, facilitate market creation in cutting-edge renewable spheres, and encourage a coordinated funding approach for the distributed renewable energy sector.

The MOU builds on a previous agreement that concluded in 2019, as well as collaborations and co-investments in companies and financial intermediaries, such as the Energy and Entrepreneurs Growth Fund (EEGF) and SIMA Fund’s Energy Access Relief Fund (EARF).