Production 2025

MSB - $30 million loan

In January 2025, LUF closed a $30 million facility with Vietnam Maritime Commercial Joint Stock Bank (MSB) as part of an overall $80 million financing package. The investment aims to expand access to finance for SMEs, micro-SMEs, and women-led businesses in rural, climate-smart, and agricultural sectors. DFCD’s longer term exposure plays a catalytic role by de-risking green investments and mobilizing additional private capital. This transaction contributes to Vietnam’s climate adaptation goals and aligns with DFCD’s mandate to promote inclusive growth and climate resilience in vulnerable regions such as the Mekong Delta.

Phuc Sinh - $12 million loan

In April 2025, FMO signed a $15 million financing package with Phuc Sinh Corporation, a leading exporter of Rainforest Alliance-certified coffee and pepper in Vietnam. The investment includes a $12 million term loan for constructing a new coffee processing factory in Dak Nong and $3 million from Building Prospects (another program managed by FMO) for working capital. This transaction aims to scale climate-resilient, deforestation-free coffee production in Vietnam’s vulnerable coffee-growing regions. Over the next three years, Phuc Sinh will nearly double Rainforest Alliance-certified cultivation to over 7,000 hectares, benefiting 10,000 individuals—including 3,800 from vulnerable groups—and avoiding 3,825 tonnes of CO₂e emissions annually.

Miro Forestry Development Limited - $1 million equity (3rd top-up)

In mid-2025, LUF approved a $1 million capital injection into Miro Forestry as part of an emergency restructuring to prevent insolvency. Miro, West Africa’s largest FSC-certified plantation forestry company, faced a severe liquidity crunch and was projected to run out of cash by June 2025. The rescue package—structured as a rights issue alongside a new lead investor—required a full capital restructuring, converting preference shares into ordinary shares and canceling warrants.

GH2 - $5 million loan

In 2025, LUF committed $5 million to GH2 Industries in Pakistan as part of a blended finance structure alongside a Building Prospects loan of $5 million. The investment supports the construction of a greenfield agri-based manufacturing facility in Sindh, designed with “Zero Liquid Discharge” technology and biomass-based cogeneration, resulting in net-negative GHG emissions. The project strengthens climate resilience in Pakistan’s rice value chain, which faces severe flooding and drought risks, by promoting climate-smart agriculture and circular production models. GH2 is expected to generate $18 million in annual export revenues, substitute $4 million in imports, and create significant rural employment. DFCD’s concessional capital de-risks this innovative project, enabling future commercial participation and scaling sustainable practices across the supply chain.

Stichting Hivos Triodos Fonds - $20 million loan

In 2025, LUF committed $20 million to the junior tranche of Stichting Hivos-Triodos Fonds—a facility managed by Triodos Investment Management—targeted at sustainable agriculture, rural development, and climate projects across Africa (~60%) and Asia (~40%). This investment is strategically important for DFCD because HTF can finance smaller ticket sizes (≈ $0.5–5 million) that typically fall below FMO’s threshold, creating crucial absorption capacity for the growing pipeline of early-stage projects originated by SNV and WWF under the DFCD Origination Facility.

FNB Zambia - $10 million loan

LUF supported First National Bank Zambia (FNBZ) with a blended finance structure aimed at accelerating climate-smart agriculture and resilience in Zambia. Through a $20 million Senior Term Loan, co-financed by FMO and DFCD, FNBZ is expanding its portfolio to serve SMEs and agribusinesses with sustainable solutions such as conservation agriculture, irrigation, agroforestry, and renewable energy. The DFCD tranche of $10 million strengthens FNBZ’s institutional capacity and enables the development of a Climate-Smart Agriculture investment framework and digital monitoring tools. This transaction addresses Zambia’s critical need for long-term US dollar funding following the sovereign default and recent drought, while catalyzing private capital and aligning with EU Global Gateway objectives for inclusive green growth.