SIFEM publishes its 2024 Business & Financial Report
The Swiss development finance institution SIFEM, managed by responsAbility Investments AG, has announced the release of its 2024 Business & Financial Report.
With 12 new investments totalling USD 173 million, 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
Jörg Frieden, Chair of the Board of Directors at SIFEM, said “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.”
Michael Fiebig, Head of Private Equity and Funds at responsAbility, said: "As SIFEM enters a new strategic period, we are building on two highly successful years of leading the portfolio management mandate – in close partnership with the Board, the shareholder, and key stakeholders."
Ralph Keitel, Head Fund Investments at responsAbility, said: "As SIFEM’s portfolio manager, responsAbility is proud to have delivered another record year in terms of new commitments – with USD 173 million allocated to 12 new impactful projects across emerging markets."
About SIFEM SIFEM serves as Switzerland’s Development Finance Institution (DFI). Established in 2011 as a public limited company fully owned by the Swiss Confederation, SIFEM plays a key role in Switzerland's international cooperation strategy. SIFEM provides long-term financing to small and medium-sized enterprises (SMEs) in developing and emerging countries through local financial intermediaries. By doing so, SIFEM aims to reduce poverty while fostering sustainable, inclusive, and resilient economies. Its focus also extends to tackling the root causes of climate change and enhancing communities' resilience to its effects.
About responsAbility Investments AG responsAbility Investments AG is a leading impact asset manager specializing in private market investments across three investment themes. These themes directly contribute to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, to finance the growth of Micro & SMEs; Climate Finance, to contribute to a net zero pathway; and Sustainable Food, to sustainably feed an ever-growing population. All responsAbility investment solutions target specific measurable impact alongside market returns.
Since its inception in 2003, responsAbility has deployed over USD 16.5 billion in impact investments. With over 270 employees collaborating across 7 offices, as of 31 March 2025 the company manages USD 5.5 billion in assets across approximately 300 portfolio companies in around 70 countries. Since 2022, responsAbility has been part of M&G plc, the international savings, and investments business, and contributes to enhancing M&G’s capabilities in impact investing.
Contact
Richard Rogers
responsAbility Investments AG
+41 44 403 2151
media@responsability.com
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