FMO, the Dutch entrepreneurial development bank, said it plans to open a regional office in Abidjan, Côte d’Ivoire, as it expands its long-term operations across West Africa. The announcement was made during a visit by FMO’s Management Board and Supervisory Board to the country, hosted at a reception at the residence of Jeroen Kelderhuis, Ambassador of the Kingdom of the Netherlands to Côte d’Ivoire.

The new office is expected to strengthen FMO’s on-the-ground presence in a region where its investment activity has grown steadily in recent years. The bank said having staff based in Abidjan will allow it to work more closely with clients and partners, improve local market insight, and support the sourcing and execution of investments aimed at private-sector development.

West Africa at the center of investment strategy

West Africa has become a key focus for FMO, driven by demand for financing in energy, financial services, and agribusiness, food, and forestry. The region also continues to face gaps in access to credit and infrastructure, creating opportunities for development-focused capital.

The institution brings more than 50 years of experience investing in private-sector projects in emerging markets. In West Africa, it has built a portfolio of about €1.3 billion ($1.5 billion), spread across more than 50 clients. FMO also works with other investors to help attract additional funding into projects it supports.

Looking ahead, FMO has indicated it sees room to significantly scale its exposure in the region, with plans that point toward nearly doubling its overall portfolio by 2030. The Abidjan office is expected to play a central role in that expansion by improving deal origination and strengthening relationships with local institutions.

Côte d’Ivoire, in particular, is seen as a key base for regional operations. As one of Francophone West Africa’s largest economies, it offers access to a wide range of sectors and serves as a gateway to neighboring markets. From Abidjan, FMO plans to support investments across the region with a focus on long-term economic development.

Focus on local partnerships and market access

Beyond financing individual projects, FMO said the new office will support broader efforts to build stronger investment pipelines and improve coordination with local and international partners. The goal, it said, is to help develop viable projects in markets that often struggle to attract commercial funding on their own.

The bank also plans to work more closely with financial institutions and development partners to encourage knowledge sharing and increase capital flows into underserved sectors. It said this approach is intended to make it easier for businesses to access financing and to strengthen overall market conditions.

West Africa remains core priority for FMO

FMO said the presence in Abidjan will also help it manage its existing portfolio more closely and respond faster to new investment opportunities as they arise.

FMO Chief Executive Michael Jongeneel said West Africa remains a priority region for the institution. “West Africa is an important region for FMO, with strong growth potential and increasing demand for investment across sectors that are critical for development,” he said. “By establishing a presence in Abidjan, we are strengthening our ability to partner locally, originate new opportunities, and support businesses that contribute to sustainable and inclusive growth across the region.”

In May, FMO also participated as an anchor investor in the first ICMA-aligned Nature Bond issued by an African commercial bank. Ecobank Transnational Incorporated raised $450 million through a Sustainable Agriculture and Natural Capital Bond, aimed at financing projects linked to agriculture and environmental sustainability.