Michael Barth is to resign his duties as chief executive officer of the Netherlands Development Finance Corporation (FMO) as of January 1, 2005. Barth has taken this decision strictly for personal reasons. Barth has led the development bank for over five years. He is also president of EDFI, a partnership organisation of 13 European development banks.
FMO supports companies and financial institutions in developing countries with loans, equity, guarantees and other investment promotion activities. The aim is to promote sustainable economic growth. With an investment portfolio of €1.9bn and more than 200 employees, FMO is one of the largest bilateral development bank focused on the private sector worldwide. FMO is a solid financial institution with an AAA-rating from Standard & Poor’s.