The Dutch Development Bank (FMO) has reduced the value of its portfolio in Ukraine by EUR200 million, including direct investments – by EUR70 million, loans – by EUR90 million, according to a press release from the bank.
“In Ukraine, we provided financing mainly to agro-industrial companies and the renewable energy sector. After the Russian invasion of Ukraine, FMO published in its annual report that the direct impact on Ukraine amounted to about EUR200 million under contracts with 14 clients,” the message says.
It is indicated that this risk falls on debt products (56%), equities (37%) and guarantees (7%).
“The adjustments reflect management’s updated expectations for revenue and investment recovery impacted by the war in Ukraine,” FMO said.
In addition, the financial institution has indirect risks in Ukraine through borrowed funds in the amount of EUR14 million.
The bank stressed that it has no direct contact with Russia, and the assessment of its portfolio in Belarus has been reduced by about EUR20 million, mainly in the form of capital.
