Segment Reporting by Funds Managed for the Risk of the State

FMO and funds managed for the risk of the State

Apart from making disbursements from its own resources, FMO provides loans, guarantees and equity investments from special government funds, within the conditions and objectives of these facilities. The funds consist of subsidies provided under the General Administrative Law Act and other official third parties. In the case of MASSIF, FMO has an equity stake of 2.66% (2010: 2.66%). In 'related parties', the relationship between the State and FMO regarding these funds and programs is described in detail.

Loans and equity managed for the risk of the State

These loans and equity investments are managed for the risk of the State.

2011

2010

Loans

323,536

325,150

Equity investments

222,900

179,861

Total

546,436

505,011

Loans managed for the risk of the State

The loan portfolio comprises the loans issued by the following funds.

2011

2010

MASSIF

139,118

154,000

LDC Infrastructure Fund

152,138

143,408

Access to Energy Fund

32,280

27,742

Total

323,536

325,150

Equity investments managed for the risk of the State

The equity investments have been made by the following funds:

2011

2010

MASSIF

139,007

118,131

LDC Infrastructure Fund

75,239

50,584

European Investment Bank

4,989

5,812

Access to Energy Fund

3,665

5,334

Total

222,900

179,861