SIFEM is pleased to announce the release of its 2024 Business & Financial Report.

With 12 new investments totalling USD 173 million, the Swiss Investment Fund for Emerging Markets (SIFEM) closed 2024 with over USD 1.05 billion in active capital commitments, underlining its growing role in development finance.

SIFEM’s 2024 portfolio included five climate-focused transactions accounting for USD 40 million, supporting mitigation and adaptation efforts in developing economies. Since 2021, 31% of all commitments have targeted climate-relevant projects—well above SIFEM’s 25% target. These investments reflect the institution’s strong alignment with Switzerland’s international cooperation priorities, including job creation, SME support, and climate action.

Strengthened Operations and Strategic Completion

2024 marked the final year of the 2021–24 strategic period set by the Federal Council. During the year, SIFEM relaunched its technical assistance programme for its investees, in close collaboration with SECO, to support enhanced operational resilience and risk governance.

Sound 2024 Financial Results

In financial terms, SIFEM recorded a very positive year, with an operating result of CHF 35.7 million, contributing to a cumulative operating result of CHF 76.0 million over the four-year strategic period.

Institutional Milestones

On 14 June 2024, the Swiss Parliament unanimously adopted the new SIFEM Federal Act. Entering into force on 1 January 2025, the Act establishes a dedicated legal framework for the institution’s development finance mandate.

In May 2024, SIFEM welcomed Margarita Aleksieva to its Board of Directors. A seasoned infrastructure and energy expert with two decades of experience in renewable energy and impact investing, she contributes to the Audit Committee and serves as an expert on climate-related investments.

The Board also approved a new Impact Rating Tool (IRT), designed to assess expected impact and monitor impact performance across the investment lifecycle. The IRT will be applied to all new investments from 2025.

Outlook

“SIFEM had a landmark year in 2024. Record investment levels, strengthened impact tools, and a new legal foundation have improved our effectiveness in supporting sustainable economic growth. Professionalism and good results are essential in a world where development finance is openly challenged. SIFEM remains fully committed and confident in its mission,” said Jörg Frieden, Chair of the Board of Directors.

SIFEM’s 2024 Business & Financial Report and audited financial accounts were approved at the Annual General Meeting held on 6 May 2025. The full report is available in English, French, and German.