Danish International Development Agency

Investment Fund for Developing Countries (IFU) is an independent fund under the Danish Ministry of Foreign Affairs. IFU provides risk capital and advice to companies wishing to set up business in Africa, Asia, Latin America and parts of Europe. Investments are made on commercial terms in the form of equity and loans. In 1967, IFU was established by the Danish government “with the purpose of promoting economic activity in developing countries by promoting investments in these countries in collaboration with Danish trade and industry”. According to 2016 Law amendments on Danish Development Cooperation, the overall objective of IFU evolved to “promoting investments that support sustainable development in developing countries and contribute to the realisation of the Sustainability Development Goals”. Carnegie Consult was commissioned by Danida to perform an evaluation of IFU’s activities since 2004 to 2018. The objectives of this evaluation were backward-looking to assess IFU’s contribution to development and commercial outcomes through its investments in developing countries in line with its mandate and IFU’s strategy and forward-looking to assess the envisaged future role in Danish development cooperation, and whether the organization is fit for purpose. The evaluation included extensive desk-research, portfolio analysis, interviews and field visits to Africa, Eastern Europe and Asia. The report can be found here.

OUR TEAM

Carnegie Consults advises governments, (semi-) public organizations, development banks, (international) financial institutions, international and multilateral funders, private funds and NGOs.

Toon Luttikhuis

Director

Rien Strootman

Senior Manager

Alwin
de Haas

Non-executive director Capital markets

Rianne
van Raaij

Consultant

Cian
Donaghy

Senior Associate

Jose
Habimana

Senior Associate

Katja
Audenaerd

Senior Associate Export finance

Fred
Zaal

Senior Associate Agronomics

Paulo
Luswata

Senior Associate

Bart
Schaap

Senior Associate Fund management

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Mogas
Jaime Canhe

Senior Associate

Mark
Roelands

Senior Consultant Risk management

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Nino
Serdarevic

Senior Associate

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Christopher
Aleke Dondo

Senior Associate

Vacatures

Senior Associate

What we do

Transaction support

We are well versed in the full financing processes of companies and organisations, thereby gaining a deep understanding of the funding needs and constraints from the private sector. Such hands-on experience provides us with deep insights into the opportunities and challenges of finance delivery, risk management, and alternatives to traditional debt financing instruments. Carnegie Consult provides support in development of financial business cases, investor selection, financing processes, negotiations and legal documentation. We bring in the needed financial expertise to provide advice on specific financial instruments and blended finance mechanisms that can be effectively applied to mobilise private sector investment.

What we do

Financial advisory

Carnegie Consult carries out numerous short- and long-term (international) assignments for international financial institutions, development banks, national governments and private sector organisations. We carry out feasibility and market scoping studies. Furthermore, we design, implement and manage financial instruments (debt, equity, guarantees, grants), funds, facilities and private sector development programs. Through our past experience, we have developed deep insight on how to assess financial risks within (micro-)financial institutions and (semi-public) organisations. As a result, we have a clear vision on the technicalities of public and private financing sources and mechanisms and understand why and how these can be applied in a local context. Past clients in financial delivery mechanisms in local financial markets include AfDB, EIB, KfW, Norad, and Sida.

What we do

Reviews and Evaluations

Carnegie Consult conducts impact studies, evaluations and policy reviews. We analyse, evaluate and support investments in the private sector (funds, financial institutions, SMEs and agribusinesses). We have conducted various evaluations of financial structures for funds, facilities and investments programs (for example FMO, BIO and the International Fund of Developing Countries (IFU) of Danida). We also evaluated the applicability of ancillary financial products, including instruments such as insurances to mitigate political or foreign exchange risks (TCX), guarantee products designed to mitigate the lack of collateral, projects in greenfield stages that often lack track record, and (project) finance products available at IFIs and DFIs.

Carnegie Consult BV

Carnegie Consult BV Who are we

Carnegie Consult BV is a development finance boutique providing fully independent advisory services in the field of inclusive finance to governments, development finance institutions, NGOs and businesses. Our core expertise lies in private sector development, financial markets and instruments and PPPs.

Value chain

Carnegie Consult BV is a development finance boutique

Carnegie Consult BV

Carnegie Consult BV Who are we

Carnegie Consult BV is a development finance boutique providing fully independent advisory services in the field of inclusive finance to governments, development finance institutions, NGOs and businesses. Our core expertise lies in private sector development, financial markets and instruments and PPPs.

Fintech

Carnegie Consult BV is a development finance boutique

Carnegie Consult BV

Carnegie Consult BV Who are we

Carnegie Consult BV is a development finance boutique providing fully independent advisory services in the field of inclusive finance to governments, development finance institutions, NGOs and businesses. Our core expertise lies in private sector development, financial markets and instruments and PPPs.

International trade

Carnegie Consult BV is a development finance boutique

Carnegie Consult BV

Carnegie Consult BV Who are we

Carnegie Consult BV is a development finance boutique providing fully independent advisory services in the field of inclusive finance to governments, development finance institutions, NGOs and businesses. Our core expertise lies in private sector development, financial markets and instruments and PPPs.

SMEs

Carnegie Consult BV is a development finance boutique

Carnegie Consult BV

Carnegie Consult BV Who are we

Carnegie Consult BV is a development finance boutique providing fully independent advisory services in the field of inclusive finance to governments, development finance institutions, NGOs and businesses. Our core expertise lies in private sector development, financial markets and instruments and PPPs.

Healthcare

Carnegie Consult BV is a development finance boutique

Carnegie Consult BV

Carnegie Consult BV Who are we

Carnegie Consult BV is a development finance boutique providing fully independent advisory services in the field of inclusive finance to governments, development finance institutions, NGOs and businesses. Our core expertise lies in private sector development, financial markets and instruments and PPPs.

Female and Youth

Carnegie Consult BV is a development finance boutique

Carnegie Consult BV

Carnegie Consult BV Who are we

Carnegie Consult BV is a development finance boutique providing fully independent advisory services in the field of inclusive finance to governments, development finance institutions, NGOs and businesses. Our core expertise lies in private sector development, financial markets and instruments and PPPs.

Green growth

Carnegie Consult BV is a development finance boutique

Carnegie Consult BV

Carnegie Consult BV Who are we

Carnegie Consult BV is a development finance boutique providing fully independent advisory services in the field of inclusive finance to governments, development finance institutions, NGOs and businesses. Our core expertise lies in private sector development, financial markets and instruments and PPPs.

Agriculture

Carnegie Consult BV is a development finance boutique