Skip to content


Evaluation of the Dutch Development Finance Institution – FMO

Development Finance Institutions (DFIs) are government-backed institutions that invest returnable capital into the private sector in low-income countries to create jobs, boost growth, and fight poverty and climate change.


DFIs aim to:

  • Achieve development impact
  • Be additional to the market
  • Mobilise private finance
  • Deliver financial returns

Our role

Itad is evaluating the Dutch Development Finance Institution (FMO) to generate learning on how these strategic objectives have been achieved across the FMO portfolio. We will analyse which types of investment contribute the most to these objectives and where the trade-offs lie between development impact, additionality, mobilisation and financial returns.


The evaluation findings will provide FMO and the Ministry of Foreign Affairs with insights into which types of investments (including investment product, geography, risk category) will maximise their capacity to meet strategic objectives at portfolio level.

The evaluation will review FMO’s portfolio during 2013 – 2018, its policies and processes, and how these are put into practice within specific investments.

Read the final evaluation report.

Contact Chris Barnett ( if you would like to discuss this project.


Image: African Market Credit: Francisco Anzola (CC BY 2.0)

Team members