For FMO, acting in its role as Fund Manager (hereafter ‘FMO’) to be able to carry out the Fund’s strategy, it is essential to have an adequate risk management system in place to identify, measure, monitor and mitigate financial risks. Read more about Risk management .

Hydro Madagascar is a platform for the acquisition and development of a portfolio of several run-of-river hydroelectric projects in Madagascar. Read more about Stable renewable energy in Madagascar .

At December 31, 2024 Read more about Statement of cash flows .

At December 31, 2024 Read more about Statement of changes in fund capital .

At December 31, 2024 Read more about Statement of comprehensive income .

At December 31, 2024 Read more about Statement of financial position .

The Access to Energy Fund (AEF), the Fund, started in 2007 by the Dutch Ministry of Foreign Affairs to support the creation of sustainable access to energy in developing countries by providing risk bearing funding; equity, subordinated loans, local Read more about Summary of material accounting policies .

The Access to Energy Fund (AEF) was set up to actively support the creation of access to sustainable energy in developing countries by providing risk bearing funding; equity, local currency/subordinated loans, guarantees and, to a limited extent, Read more about At a glance .

April 23, 2026 Read more about Authorization of the financial statements .

Contact details Should you have any feedback or questions, please feel free to contact us. Read more about Colophon .