Mid Term Evaluation Building Prospects and Access to Energy Fund

In 2002 and 2007 the Ministry of Foreign Affairs of the Kingdom of the Netherlands (MFA) granted the Dutch Entrepreneurial Development Bank FMO funds for the establishment and management of Building Prospects (BP) and Access to Energy Fund (AEF) respectively. Both funds sit within the public fund management department of FMO. BP and AEF are high-risk funds aimed at specific sectors that fit within FMO’s strategy and areas of expertise, separately from FMO’s own balance-sheet. FMO’s mandate is to provide finance for the advancement of private sector development in developing economies by offering financial services not readily available through commercial markets. BP focuses on enhancing economic prospects in developing countries by fostering sustainable social and economic growth. It supports private sector development and job creation with an emphasis on climate action, integrated agri-value chains and enabling infrastructure. Financial support is provided through loans, mezzanine financing, and equity investments. AEF’s purpose is to improve sustainable energy access in developing countries. It aims to enhance the availability and quality of power by adding new renewable energy generation and distribution capacity (solar, wind, hydro). The fund prioritises reaching the unreached, with a focus on clean cooking solutions, use of innovation, transmission and distribution and productive use that drive social and economic impact. The fund offers equity, subordinated loans, local currency loans and to a limited extent (convertible) grants. BP and AEF are subject to an external evaluation every five years. The evaluation conducted by ADE was considered a Mid Term Evaluation as it took place halfway through their 10-year mandates. The objective of the evaluation was twofold: firstly, to foster accountability and facilitate learning by assessing the extent to which BP’s and AEF’s activities met the objectives and targets set by their subsidy agreements (mandates) and the funds’ investment strategies; secondly, to offer steering and strategic insights by examining what improvements can be made to (the implementation of) the mandates and the funds’ investment strategies to better align with the MFA’s policy priorities and FMO’s broader development architecture.


Project Details
Country NETHERLANDS
Start date 2024.01.15
End date 2024.07.31
Client MinBuZa - Ministerie voor Buitenlandse Zaken
Sector EVALUATION
Sub-sector Instrument/Channel
Ref. ADE A625-073